Ford (F) is scheduled to unveil its fourth-quarter 2023 results on Feb 6, after market close. Market analysts are projecting $36.39 billion in sales and earnings of 12 cents per share for the quarter.
Q3 Results
In the third quarter of 2023, Ford reported adjusted earnings of 39 cents per share, slightly below the Zacks Consensus Estimate of 40 cents but an increase from 30 cents recorded in the same quarter of the previous year. The company’s consolidated revenues for the third quarter stood at $43.8 billion, representing an 11.2% year-over-year rise.
Factors at Play
In the fourth quarter, Ford saw a 0.8% increase in U.S. sales year over year, with the Ford brand and Lincoln seeing upticks of 0.4% and 8.8% respectively. The company also witnessed notable increases in sales of hybrid vehicles, ICE, and EVs. Notably, the Mustang Mach-E and F-150 Lightning made significant contributions to record EV sales in the fourth quarter. Sales of Bronco and Maverick also saw substantial increases. Despite these gains, the United Auto Workers strike against Ford may have led to lost production, which in turn, could have impacted sales in the quarter.
Earnings Whispers
The current market forecast predicts an earnings beat for Ford in the upcoming quarter. The company’s Earnings ESP stands at +4.93%, indicating a positive trend. Ford also holds a Zacks Rank #3, further bolstering the optimistic outlook.
Other Players in the Arena
Joining Ford in the earnings arena are other key players from the auto space such as Allison Transmission Holdings, Inc. (ALSN) and BorgWarner Inc. (BWA). Market analysts expect both companies to post strong results as well.
