=Ford Motor (F) reported earnings on Wed 24 Oct 2018 (a/h)

Ford Motor beats by $0.01, beats on revs; reaffirms FY18 EPS guidance

• Reports Q3 (Sep) earnings of $0.29 per share, excluding non-recurring items, $0.01 better than the S&P Capital IQ Consensus of $0.28; revenues rose 3.0% year/year to $34.66 bln vs the $32.96 bln S&P Capital IQ Consensus.
• Co reaffirms guidance for FY18, sees EPS of $1.30-1.50, excluding non-recurring items, vs. $1.31 S&P Capital IQ Consensus; expects positive cash flow that will be lower than 2017.
• Ford also said that as a result of the higher costs and uncertainty impacting the entire sector, coupled with unexpected deterioration this year in the Europe and China business, current company forecasts show that it will not reach its previously announced 8 percent EBIT margin or high teens ROIC targets by 2020. However, the company continues to attack costs, increase the operational fitness of the business and remains committed to hit ting these targets over time.