Ford Profit Falls Again on Restructuring Charges
Ford Motor Company (NYSE: F) reported third-quarter net income of $425 million, down from $991 million in the third quarter of 2018, as one-time charges related to restructuring actions in Europe and India weighed.
Excluding those one-time charges, Ford earned $0.34 per share, up from $0.29 per share a year ago and above Wall Street's consensus estimate. Wall Street analysts polled by Thomson Reuters had expected Ford to report adjusted earnings of $0.26 per share. Ford's automotive-segment revenue was $33.93 billion, down from $34.66 billion a year ago and slightly short of Wall Street's estimate of $34.09 billion.
Ford also cut its full-year earnings guidance on growing concerns about weakness in the North American and Chinese markets. Shares fell in after-hours trading after the news was released.
Source Fool.com
