Ford's Third Quarter Held Back by Launch Costs and a Large Recall Charge
We are not changing our fair value estimate on Ford after incorporating the company’s third-quarter results into our model. Management had long warned that third quarter would only contribute about 10% of profit this year so we were not expecting much good news, but Ford did beat consensus estimates for both revenue and adjusted diluted EPS, the latter coming in at $0.26 versus $0.24 consensus. Sentiment on the stock and on the auto sector due to fears of the cycle reaching the top appear to be ...Ford Motor designs, manufactures, markets, and services a line of Ford cars, trucks, sport utility vehicles, electrified vehicles, and Lincoln vehicles, as well as provides financial services through its subsidiary, Ford Motor Credit Company LLC. The company is engaged in electrification; mobility solutions, including self-driving services; and connected vehicle services. The company has three operating segments: Automotive, which includes the sale of Ford and Lincoln vehicles, service parts, and accessories; Mobility, which includes its autonomous vehicles and its investment in mobility through Ford Smart Mobility LLC; and Ford Credit, which includes vehicle-related financing and leasing activities.
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