Ford increases full-year guidance after strong 3Q

Ford increases full-year guidance after record pretax profit in 3Q; sees lower Europe losses

Ford increases full-year guidance after strong 3Q

DEARBORN, Michigan (AP) -- Ford is raising its full-year profit guidance after a record third quarter that saw improving sales worldwide.

Ford earned $1.3 billion, or 31 cents per share, down 14 percent from a year ago.

But without one-time items, including a $250 million charge for restructuring in Europe, Ford Motor Co. reported a pretax profit of $2.6 billion, or 45 cents per share. That was a record for the third quarter.

Revenue rose 12 percent to $36 billion.

Ford beat Wall Street's expectations. Analysts polled by FactSet forecast earnings of 37 cents on revenue of $33.6 billion.

Ford previously said it expected its full-year pretax profit to be equal to or higher than its $8 billion profit in 2012. Now it expects to exceed that. Ford also expects lower European losses.

Updated : 2021-04-19 09:11 GMT+08:00