30 OCTOBER 2015www.thestreet.com
Ford's Q3 results show investment in aluminum F-150 was paying off
Edited by : AL CIRCLE
1 min read
Ford Motor posted third quarter results which narrowly missed expectations but showed the automaker is doing extremely well in the United States.
Ford was the number one selling brand in the U.S. and its aluminium F-150 sales hit a nine-year high. The automaker posted third quarter profits of $0.45 a share, excluding one-time items, that was a penny short of forecasts. The shortfall was due to the company paying a 33 percent rate versus 32 percent. On the top line, auto sales came in at $35.8 billion, slightly higher than forecasts and about nine percent above the same period last year.
Ford CFO Bob Shanks said over the next 12 months, emerging markets will continue to be a challenge and he believes South America has not hit bottom yet. In China, the automakers market share was unchanged from a year ago. One bright spot, Ford's Lincoln brand saw sales climb 15 percent from a year ago, making it the brand's best quarter in seven years.
Ford and the UAW are set to begin contract negotiations soon. Looking ahead to 2016, Shanks expects the aluminium F-150 sales momentum to continue.
Ford was the number one selling brand in the U.S. and its aluminium F-150 sales hit a nine-year high. The automaker posted third quarter profits of $0.45 a share, excluding one-time items, that was a penny short of forecasts. The shortfall was due to the company paying a 33 percent rate versus 32 percent. On the top line, auto sales came in at $35.8 billion, slightly higher than forecasts and about nine percent above the same period last year.
Ford CFO Bob Shanks said over the next 12 months, emerging markets will continue to be a challenge and he believes South America has not hit bottom yet. In China, the automakers market share was unchanged from a year ago. One bright spot, Ford's Lincoln brand saw sales climb 15 percent from a year ago, making it the brand's best quarter in seven years.
Ford and the UAW are set to begin contract negotiations soon. Looking ahead to 2016, Shanks expects the aluminium F-150 sales momentum to continue.
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