News Brief
Summary
Ford Motor exceeded Q3 2024 earnings expectations but lowered its 2025 financial guidance due to significant disruptions from a fire at an aluminum supplier’s plant, impacting production of high-profit trucks and SUVs.
Key Points
- Q3 Performance: Beat earnings estimates with adjusted EPS of 45 cents vs. 36 cents expected; automotive revenue was $47.19B vs. $43.08B expected. Total quarterly revenue hit a record $50.5B.
- 2025 Guidance Cut: Adjusted EBIT guidance lowered to $6B–$6.5B (from $6.5B–$7.5B); adjusted free cash flow reduced to $2B–$3B (from $3.5B–$4.5B).
- Supplier Fire Impact: A fire at Novelis’s New York plant is expected to cost Ford $1.5B–$2B, with production losses of ~100,000 units this year. Ford plans to recover ~50% of lost production in 2025.
- Mitigation Efforts: Adding 1,000 workers in early 2025 to boost truck production; the damaged plant section may restart by late November/early December.
- Stock Movement: Shares rose ~4% after hours, up 24% year-to-date.
- Segment Performance: Ford Pro EBIT reached ~$2B; Ford Blue EBIT was $1.54B; Model e EV losses widened to $1.41B.
新闻简报
总结
福特汽车第三季度盈利超出市场预期，但由于铝供应商工厂火灾导致高利润卡车和SUV生产中断，公司下调了2025年财务指引。
关键点
- 第三季度业绩：调整后每股收益45美分，高于预期的36美分；汽车收入471.9亿美元，高于预期的430.8亿美元。季度总收入创纪录达505亿美元。
- 2025年指引下调：调整后息税前利润指引降至60–65亿美元（原为65–75亿美元）；调整后自由现金流降至20–30亿美元（原为35–45亿美元）。
- 供应商火灾影响：Novelis纽约工厂火灾预计造成福特15–20亿美元损失，今年产量损失约10万辆。福特计划在2025年恢复约50%的损失产量。
- 缓解措施：2025年初将增雇1000名工人以提高卡车产量；受损工厂部分预计11月底或12月初重启。
- 股价变动：盘后股价上涨约4%，年内累计上涨24%。
- 部门业绩：福特Pro部门息税前利润约20亿美元；福特Blue部门息税前利润15.4亿美元；Model e电动车部门亏损扩大至14.1亿美元。
Original Article Link: https://www.cnbc.com/2025/10/23/ford-motor-earnings-q3-2025.html