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Ford had an impressive 3Q 2021 and Jim Farley also says rollout of BlueCruise pushed back to 1Q 2022.
Separately, Farley on Wednesday said Ford would delay an over-the-air rollout of its BlueCruise hands-free highway driving system from this year until the first quarter of next year. He said the delay is to simplify the technology, which is viewed as a new recurring revenue opportunity and a way for Ford to catch up with other systems from competitors such as GM and Tesla.
Ford shatters Wall Streetās earnings expectations, raises guidance for the year on new vehicle demand
DETROIT ā Ford Motor nearly doubled Wall Streetās earnings expectations and slightly beat revenue projections for the third quarter, leading the automaker to increase its annual guidance for the second time this year.
Hereās how Ford performed versus what Wall Street expected based on average analyst estimates compiled by Refinitiv.
āMore to comeā
Ford cited strong demand for newer products such as the Bronco SUV and Mustang Mach-E, which the company said could reach 200,000 units in sales globally a year.
āI believe we have the right plan to drive growth and unlock unprecedented value,ā Ford CEO Jim Farley told investors Wednesday during a call. āYouāre already seeing favorable change in the slope of our earnings and cash flow. Thereās more to come.ā
Separately, Farley on Wednesday said Ford would delay an over-the-air rollout of its BlueCruise hands-free highway driving system from this year until the first quarter of next year. He said the delay is to simplify the technology, which is viewed as a new recurring revenue opportunity and a way for Ford to catch up with other systems from competitors such as GM and Tesla.
Ford shatters Wall Streetās earnings expectations, raises guidance for the year on new vehicle demand
DETROIT ā Ford Motor nearly doubled Wall Streetās earnings expectations and slightly beat revenue projections for the third quarter, leading the automaker to increase its annual guidance for the second time this year.
Hereās how Ford performed versus what Wall Street expected based on average analyst estimates compiled by Refinitiv.
- Adjusted EPS: 51 cents per share adjusted vs. 27 cents per share expected
- Automotive revenue: $33.21 billion vs. $32.54 billion expected
- Fordās shares jumped by more than 9% during after-hours trading. The stock closed Wednesday down by 2.7% to $15.51 a share.
āMore to comeā
Ford cited strong demand for newer products such as the Bronco SUV and Mustang Mach-E, which the company said could reach 200,000 units in sales globally a year.
āI believe we have the right plan to drive growth and unlock unprecedented value,ā Ford CEO Jim Farley told investors Wednesday during a call. āYouāre already seeing favorable change in the slope of our earnings and cash flow. Thereās more to come.ā
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