Ford Motor Q3 EPS Miss Estimates, While Revenue Beats, Shares Down 2% By Investing.com

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Ford Motor Q3 EPS Miss Estimates, While Revenue Beats, Shares Down 2%

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Ford Motor Q3 EPS Miss Estimates, While Revenue Beats, Shares Down 2%

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By Davit Kirakosyan

Ford Motor Company (NYSE:F) reported its Q3 results, with EPS of $0.30 coming in worse than the consensus estimate of $0.32, while revenue of $39.4 billion (up 10% despite supply chain issues) beat the consensus estimate of $37.75 billion. Shares were trading nearly 2% lower after-hours.

In Q3, the company made a strategic decision to shift its capital spending from the L4 advanced driver assistance systems being developed by Argo AI to internally developed L2+/L3 technology. Earlier, Argo AI had been unable to attract new investors. Accordingly, the company recorded a $2.7 billion non-cash, pretax impairment on its investment in Argo AI, resulting in an $827 million net loss for Q3.

The company provided its full-year outlook, expecting adjusted EBIT to be about $11.5 billion (up about 15%), and raising its adjusted free cash flow estimate to $9.5-$10 billion.

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