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Ford Truck Sales Lift Third Quarter Earnings

Ford Truck Sales Lift Third Quarter Earnings

Ford Motor Company surprised investors by beating third quarter earnings forecasts. The automaker reported a net income of $1.59 billion, rising from $960 million from the same period of last year. The better results were driven by an increased appetite for trucks in the U.S.

Only two Ford operating regions reported a net profit, North America and Asia Pacific. North America saw its operating margin increase to 8.1 percent as average transaction prices on the coveted F-Series truck cross $45,000. Ford also saw solid sales gains in China, leading to their profitability in that market.

In total, Ford reported revenues of $36.45 billion during the quarter, this is an increase from third quarter 2016, which was $35.94 billion.

Ford is a company currently under transition with new CEO Jim Hackett. Thus far investors have not been convinced on Hackett’s plans, with Ford’s stock up only 1 percent since taken the helm. In pre-market trading this morning investors appeared to be rewarding the company for beating Wall Street analysts.



About Nick Saporito

AutoVerdict Senior Editor Nick Saporito began writing about cars at age 13. Nick ran a couple of automotive enthusiast sites for several years, before taking some time off to focus on his career and education. By day he's a marketing executive in the telecom world and by night he hangs out here at AV. You'll find him focusing on tech, design and the industry's future.
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  1. arutherford
    Apparently Hackett told a reporter that Ford is considering leaving South America.

    That would be a huge mistake!!!
    so far/afaik

    other than *compiling* the biggest dossier (hit list?) of his career, the only thing Mr. Hatchett has done is oust 4 senior Fomoco execs (not counting MkF)

    also afaik Bill Ford is PR'ing somewhere today or tomorrow -- will we find out ANYthing ...that we actually WANT To find out??
    Good news. Still not sold on Hackett.
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