Ford’s Q3 Earnings Beat Expectations As EV Sees Losses

2024-10-29 64

Ford’s third-quarter earnings exceeded Wall Street forecasts with higher revenue and adjusted EPS, marking its tenth consecutive quarter of year-over-year growth. Ford’s EV segment faced ongoing challenges, with total EV losses exceeding $3 billion in 2024. Ford's commercial and software division, Ford Pro, remains a key revenue driver. Ford’s US EV sales rose 12%, but it remains behind GM and Hyundai Motor Group. Shares dropped nearly 5% as investors awaited stronger guidance.