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Ford (F) is scheduled to report fourth-quarter 2023 effects on Feb. 6, after the last bell. Zacks’ consensus estimate for sales and earnings for the quarter is set at $36. 39 billion and 12 percentage cents consistent, respectively. The final projection implies a year-on-year drop of 76. 5%. Zacks’ consensus estimate for Ford’s fourth-quarter earnings, consistent with percentage, has fallen a penny over the past 30 days. Its overall projection implies a 12. 9% year-over-year decline. Over the past four quarters, the U. S. auto giant has beaten earnings estimates twice and missed them twice, with an average gain of 20. 3%. This is illustrated in the graphic below:
Ford Motor Company Price-eps-Surprise | Ford Automotive Company Quote
Ford reported adjusted earnings of 39 cents in line with the constant percentage for the third quarter of 2023, below the Zacks consensus estimate of 40 cents, but up from 30 cents in the year-ago quarter. The company’s consolidated profit in the third quarter was $43. 8 billion. , a year-on-year increase of 11. 2%. Ford reported adjusted loose cash flow of $1. 23 billion in the quarter. As of September 30, 2023, money and cash equivalents amounted to $26. 43 billion. Long-term debt, excluding Ford Credit, was $19. 33. billion by the end of the third quarter of 2023.
In the fourth quarter, Ford’s U.S. sales increased 0.8% year over year to 487,840 units. Sales of the Ford brand rose 0.4%, while that of Lincoln increased 8.8% on the back of solid sales of Aviator and Nautilus.Sales of hybrid vehicles, ICE and EVs in the United States came in at 37,229, 424,674 and 25,937 units, up 55.5%, down 3.4% and up 27.5%, respectively, on a yearly basis. Mustang Mach-E and F-150 Lightning were the highest contributors to record EV sales in the fourth quarter of 2023. The year-over-year sales of Mustang Mach-E and F-150 Lightning increased 4.6% and 73.6%, respectively.Sales of Bronco (58.9%) and Maverick (22.4%) rose significantly in the fourth quarter. The year-over-year sales of Ford SUVs and cars increased 7.4% and 20.9%, respectively, while truck sales fell 5%. Ford 2024 Mustang, launched in August 2023, sold 13,290 units in the fourth quarter, up 21% compared with the previous quarter. An increase in year-over-year SUV and car sales is likely to boost the fourth quarter’s result.Meanwhile, the combination of Ford Pro’s strong order books and the successful launch of the all-new Super Duty set the stage for promising results for the Ford Pro segment.The United Auto Workers strike against Ford, which began on Sep 15, 2023 and lasted six weeks, is likely to have led to lost production in the fourth quarter. Lower production may have hurt sales in the to-be-reported quarter. Our sales estimate for Ford Blue, Ford Model e and Ford Pro segments is pegged at $21.54 billion, $1.35 billion and $12.86 billion, implying a year-over-year decline of 18.1%, 13.4% and 7.5%, respectively.
Our style shown predicts superior profit for Ford in the next quarter because it comprises the right combination of the two key ingredients. The combination of a positive earnings ESP and a Zacks No. 1 (big buy), 2 (buy) or 3. (keeping) the score increases the chances of beating the wins. That’s the case here. ESP Earnings: Ford has an ESP profit of 4. 93%. The maximum accurate estimate is set at 6 cents more than the Zacks consensus estimate. You can notice the maximum productive stocks to buy or sell before they are flagged with our ESP profit filter. Zacks Rank: Lately he has a Zacks rank number 3.
Here are some other players in the automotive sector that our style also has the right elements to register higher profits this time. Allison Transmission Holdings, Inc. ALSN will report its fourth quarter 2023 earnings results on February 13. The company has an Earnings ESP of +3. 63% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here. The Zacks Consensus Estimate for ALSN’s upcoming quarterly earnings and reported earnings are pegged at $1. 42 on a constant basis and $753. 73 million, respectively. Allison beat earnings estimates in the following four quarters, with the average profit being 17. 23%. BorgWarner Inc. BWA will report its fourth quarter 2023 earnings results on February 8. The company has an Earnings ESP of +4. 25% and a Zacks Rank #3. The Zacks Consensus Estimate for BWA’s upcoming quarterly earnings and earnings are pegged at 92 cents consistent with the percentage constant and $3. 59 billion, respectively. BorgWarner beat earnings estimates in 3 of the last 4 quarters and missed once, with an average profit of 10. 93%. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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