Ford Motor Company (NYSE:F) released its earnings numbers for the three months through September this morning before the market opened on Wall Street. The automobile maker showed earnings of 45 cents per share for the third quarter of the year on revenue totaling $36 billion. In pre-market trading the company’s stock rose by more than 3% on the earnings beat.
In the run up to the release of this report analysts following Ford Motor Company (NYSE:F) were looking for earnings of $38 cents per share for the September quarter. Revenue in the period was expected to come in at $33.9 billion. the beat on both revenue and earnings is a good sign for the company and the economy of the United States as a whole.
Ford earnings beat
The report showed that Ford Motor Company (NYSE:F) earned 31 cents per share including all items. The firm incurred a $250 million restructuring charge during the period. The report gives the company a 100% success rate for beating analyst expectations in 2013, and the company seems sure that the trend will continue.
Ford Motor Corporation (NYSE:F) raised its guidance for the full year this morning. The company says that it is now looking for full year earnings above 2012 levels. The company previously guided that profits for the full year would come in roughly in line with last year’s takings. Analysts are looking for earnings of $1.55 per share for the full year. Last year saw Ford earn $1.41 per share.
Strong earnings reports from the auto industry in the opening months of 2013 led many to believe that 2013 would finally see the US economy recover from its five year stupor. That hasn’t happened, but Ford Motor corporation (NYSE:F) is still doing well for itself.
Stock in the car company has increased by more than 35% since the year began, and today’s earnings report will help to support those gains. The firm’s shares are trading at over 11 times earnings, a little lower but roughly in line with its major competitors. 2013 may not have seen a revival in in American economic power, but it has seen a revival in the fortunes of the country’s oldest car maker.