The Driving Force Behind Ford’s Q3 Report

By Chris Lange Updated Jan 11, 3:54PM EST · Published Oct 24, 5:04PM EDT

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The Driving Force Behind Ford’s Q3 Report — © josefkubes / iStock

Ford Motor Co. (NYSE: F) reported third-quarter 2018 results after markets closed Wednesday afternoon. For the quarter, the automaker posted adjusted diluted earnings per share (EPS) of $0.29 on revenues of $37.7 billion. In the same period a year ago, the company reported EPS of $0.44 on revenues of $33.65 billion. Analysts were looking for EPS of $0.28 and revenues of $33.3 billion.

Ford Credit had a strong quarter with $2.998 billion in revenue, an increase of 7% year over year.

In terms of its regions, Ford reported:

North America revenues increased 6.3% year over year to $22.3 billion.
South America revenues decreased 15.4% to $1.3 billion.
Europe revenues increased 6.8% to $7.4 billion.
Middle East & Africa revenues decreased 6.8% to $0.6 billion.
Asia Pacific revenues decreased 19.4% to $3.1 billion.

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Jim Hackett, Ford President and CEO, commented:

This quarter shows that our business remains very strong in key areas. We continue to make progress on our efforts to redesign Ford to be far more competitively fit, disciplined in capital allocations and nimble enough to win in a fast changing world. With products like the Edge ST and Ranger launching in the United States and the Territory SUV in China, we are also building momentum shifting our product portfolio to build on our strengths and meet shifting consumer demand.

Shares of Ford closed Wednesday at $8.18, with a consensus analyst price target of $10.11 and a 52-week range of $8.17 to $13.48. Following the announcement, the stock was up 6% at $8.70 in the after-hours session.

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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.