Ford Motor Company (NYSE:F) released its earnings report for the third quarter of 2017 on Thursday.
Ford Motor Company reported earnings per share of 43 cents during its third quarter of 2017. This is an increase over its earnings per share of 26 cents from the same time last year. It also came in above Wall Street’s earnings per share estimate of 33 cents for the quarter.
Revenue reported by Ford Motor Company in the third quarter of the year was $36.45 billion. The automotive company reported revenue of $35.94 billion during the third quarter of 2016. Analysts were estimating revenue of $32.80 billion for the third quarter of 2017.
For Motor Company notes that sales of certain vehicles did very well in the U.S. in the third quarter. This includes F-Series truck sales increasing by 14% and SUV sales going up by 4% when compared to the same time last year. However, overall North America revenue was down 900 million to $20.9 billion during the quarter.
Ford Motor Company reported net income of $1.57 billion in the third quarter of the year. This is up from its net income of $961 million reported in the same period of the year prior.
Ford Motor Company also updated its guidance for the full year of 2017 in its most recent earnings report. The company says that it is tightening its earnings per share outlook to the high end of its previous range. It now expects earnings per share to come in between $1.75 and $1.85. Wall Street is estimating earnings per share of $1.74 for the year.
F stock was up slightly as of noon Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
