Ford Motor (F) Reports Big Drop In Q3 Profit But Still Beats Street Expectations On Strong Demand For Focus Compact, F-150

on October 24 2013 7:25 AM
Ford Motors
The Ford logo is seen on a vehicle at Ford car plant in Craiova, 230km (143 miles) west of Bucharest, October 29, 2012. REUTERS/Bogdan Cristel/Files

The Ford Motor Company (NYSE:F), the No. 2 U.S. carmaker, said Thursday its third-quarter profit fell 22 percent to $1.27 billion, but it still beat Wall Street expectations as demand for its Focus compact car and F-150 pickup truck soared.

The Dearborn, Mich.-based company said its pretax profit was 45 cents per share, better than the 38 cents per share analysts polled by Thomson Reuters expected. Revenue rose 12 percent to $36 billion 

Ford, which incurred charges for buying out salaried worker pension benefits and for a one-time charge of $345 million for closing European plants, raised its outlook for its total company operating margin and pretax profits for all of 2013.

 

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