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Ford (F) This autumn 2023 earnings

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Ford CEO Jim Farley on the firm’s Dearborn, Michigan, plant the place it is constructing the electrical F-150 Lightning on April 26, 2022.

CNBC | Michael Wayland

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DETROIT — Ford Motor is saying fourth-quarter and 2023 earnings after the markets shut Tuesday.

This is what Wall Avenue expects, based mostly on common analysts’ fourth-quarter estimates compiled by LSEG, previously referred to as Refinitiv:

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  • Earnings per share: 14 cents adjusted
  • Automotive income: $40.12 billion

These outcomes would mark a 73.4% lower in adjusted earnings per share in comparison with a 12 months earlier in addition to a 3.9% decline in automotive income. Ford’s 2022 fourth-quarter results included $41.8 billion in automotive income, internet earnings of $1.3 billion and adjusted earnings earlier than curiosity and taxes of $2.6 billion.

Except for its earnings, Wall Avenue can be watching Ford’s 2024 steerage. Analysts anticipate it to be flat to barely decrease in comparison with 2023. Nonetheless, Ford’s crosstown rival General Motors final week beat expectations for earnings steerage.

Analysts forecast Ford’s steerage to be roughly between $9 billion and $11 billion, in keeping with investor notes from a number of analysts.

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Ford in November forecast 2023 adjusted EBIT of $10 billion to $10.5 billion, about $1 billion decrease than earlier steerage in mild of contract negotiations with the United Auto Employees union.

Wall Avenue additionally can be looking ahead to any further actions by Ford to offset rising labor prices as a result of new UAW contract, which the corporate mentioned is expected to cost $8.8 billion over the lifetime of the deal, ending in April 2028.

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Ford is predicted to face headwinds this 12 months, together with decrease automobile costs, guarantee prices and continued losses for all-electric automobiles. Vivid spots are anticipated to be its Ford Professional fleet unit and conventional Ford Blue inner combustion engine enterprise.

That is breaking information. Please examine again for updates.

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— CNBC’s Michael Bloom contributed to this report.

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