Ford Motor Lowers FY19 EBIT Guidance

(RTTNews) - Ford Motor Company (F) lowered its guidance for full-year company adjusted EBIT to between $6.5 billion and $7.0 billion, compared with $7.0 billion in 2018. Full-year adjusted earnings per share is now anticipated to be $1.20 to $1.32, versus $1.30 in 2018. The company said the fourth-quarter headwinds - higher warranty costs, higher than planned incentives in North America, and lower volumes in China - have intensified since Ford last gave financial guidance for 2019. The company still anticipates full-year growth in adjusted free cash flow driven by Automotive.

For the third-quarter, adjusted EBIT increased 8 percent to $1.8 billion. Adjusted per-share earnings were $0.34 compared to $0.29. On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $0.26, for the quarter. Analysts' estimates typically exclude special items.

Third-quarter reported revenue was $37.0 billion, down 2 percent from the prior year, largely as a result of currency exchange. Analysts expected revenue of $33.98 billion, for the quarter.