Ford expected to decline after withdrawing its annual turnover target – 10/27/2023 at 2:41 p.m.

(AOF) – Ford is expected to fall in pre-market on Wall Street, after withdrawing its annual sales forecast pending ratification by the base of the agreement reached this week with the UAW, America’s largest auto workers’ union. Adjusted earnings per share came to $0.39 for the 3rd quarter, versus $0.45 expected, for revenue up 11% to $44 billion, versus $41.2 billion expected.

Regarding electric vehicles, the manufacturer also notes an “operating loss exacerbated by pressure on prices”.


A paradoxical performance

Data from the firm EY highlights that the performance of the world’s top 16 manufacturers was particularly high in 2021. While the average margin fell for three years in a row, going from 6.3% in 2017 to only 3.5% in 2020. , this margin stood at 8.5% in 2021. This level constitutes a record for ten years. However, the context was particularly turbulent for manufacturers, faced with unprecedented shortages of components. Global sales fell by 14% in 2020, the year of the health crisis, to rebound by only 5% in 2021. However, last year, players were able to reap the benefits of their efforts on the structure of their fixed costs .

Source link -86