Ford Outperforms on Earnings, Revenue, and Vehicles Sold

F beat on earnings and revenue

Key Takeaways

  • Ford's total number of automobiles sold came in above analysts' expectations.
  • Total automobiles sold is a metric of how many vehicles—including Ford's full line of trucks, utility vehicles, and cars—the company sold across all regions.
  • Adjusted earnings beat analyst predictions and company guidance.
Ford Earnings Results
Metric Beat/Miss/Match Reported Value Analysts' Prediction
Adjusted Earnings Per Share Beat $0.30 $0.27
Revenue Beat $39.4B $38.0B
Total Automobiles Sold Beat 1,086,000 1,044,900

Source: Predictions based on analysts' consensus from Visible Alpha

Ford (F) Financial Results: Analysis

Ford Motor Company (F), the third-largest U.S. auto maker by market value, topped analyst expectations as profit, revenue, and total units sold all came in ahead of predictions despite a challenging supply chain environment.

Ford's adjusted earnings per share (EPS), excluding certain items, fell by 41% to $0.30, compared with a consensus estimate of $0.27. Revenue climbed 10% to $39.4 billion, also above expectations, on strong Ford Pro commercial products and services performance.

Lingering supply chain issues, accelerating inflation, and rising concern about a recession have diminished consumer demand for vehicles across the automobile industry. Rising interest rates, high prices, and uncertainty about the price of gasoline and oil due to the European energy crisis are also headwinds.

F Total Units Sold

Ford's sold 1.09 million vehicles, surpassing expectations. The figure, which Ford refers to as "wholesale units," is a key measure of the company's ability to deal with shortages of critical parts such as semiconductors. Ford, the maker of trucks, utility vehicles, vans, and cars, depends on global suppliers for components, so shortages can lead to production disruptions.

F Outlook and Stock Performance

Ford said it expects full-year 2022 adjusted EBIT to reach $11.5 billion, up about 15% from 2021. The company anticipates solid growth in wholesale shipments and higher earnings in North America to drive the increase.

The company's stock was little changed in after-hours trading as of 4:27 p.m. New York time. Ford shares have underperformed the broader market, dropping 17% compared with 16% for the S&P 500 Index in the past year.

Ford's next earnings report (for Q4 FY 2022) is expected to be released on Jan. 25, 2023.

Article Sources
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.
  1. Ford Motor Co. "Ford Fulfills Earnings Guidance, Has Strong Cash Flow in Q3; Will Accelerate Development of L2+/L3 ADAS Technology," Pages 1-2.

  2. Visible Alpha. "Financial Data."

  3. CompaniesMarketCap. "Largest Automakers by Market Capitalization."

  4. CNBC. "Wall Street Eyes Auto Industry Earnings for Signs of 'Demand Destruction'."

  5. Ford Motor Co. "Form 10-K for the Fiscal Year Ended December 31, 2021," Pages 18 and 34.

  6. Ford Motor Co. "Ford Fulfills Earnings Guidance, Has Strong Cash Flow in Q3; Will Accelerate Development of L2+/L3 ADAS Technology," Page 4.

  7. Yahoo! Finance. "Ford Motor Company (F)."

  8. TradingView. "Price Chart: F and S&P 500."

  9. MarketScreener. "Ford Motor Company (F)."

Take the Next Step to Invest
The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace.