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Ford posts beat on quarterly estimates

Ford reported Q3 estimates that topped the Street's expectations. The auto-manufacturer posted $0.65 EPS and $34.7B in revenue, outperforming consensus estimates of $0.19 EPS and $33.98B in revenue. Yahoo Finance’s Jared Bilkre breaks down the details.

Video Transcript

SEANA SMITH: I want to get to some breaking news that we have, where also Ford is out with its earnings report. Jared Bilkre has those numbers for us. Jared.

JARED BILKRE: We've got some pretty big beats here. Let's take a look at the numbers. We've got the third quarter revenue coming in at 34.7 billion, pretty far above expectations or a nice little beat, actually, above expectations. That's $33.98 billion. And then, adjusted EPS really coming in strong at $0.65 when the estimate was $0.19.

And they're looking towards a fourth quarter for an adjusted EBITDA breakeven loss to be $500 million. And they're also seeing positive adjusted co-EBIT for the year, for the full year of 2020. Just some other numbers from the report here. They have achieved adjusted EBIT of $3.6 billion and EBIT margin of 9.7% led by North America at 12.5%. They generated $11.1 billion in company operating cash flow, $6.3 billion of adjusted free cash flow. And they're pretty positive on that for the quarter and going forward.

And then, just some of their new models that are coming out-- the 2021 F150, the all-electric Mustang Mach-E, and the OJ-inspired Bronco Sport. They say that they are on track for all of those. So again, just recapping, beats on both their top and bottom lines. And then, just looking at what the stock is doing after hours-- not moving a whole lot, up about 84 basis points.

And then, we'll take a quick look at one or two of these charts over the last three months, up 10%. Year to date, still down about 17%. But slowly clawing back those losses from that COVID sell-off. [INAUDIBLE]

- You will not see OJ appearing in any Bronco ads, Jared. One thing I noticed from Ford's during his reports. They're making it sound like they're basically back to normal after all the disruptions, and the shutdowns, of the plants, and the plunging auto sales from the COVID explosion earlier this year.

So Ford had taken out a $15 billion line of credit. They say they've totally paid that back. And their finances are in good shape. And in the auto industry, we've almost got monthly sales volumes back to where they were before the coronavirus. So this industry is back.

SEANA SMITH: [INAUDIBLE] seem like that. And Ford, shares rising or just around 1% after hours. Of course, we're going to hear a little bit more from their management on the call, which gets underway in just around 45 minutes from now.