3 Huge Markets Ford Seeks to Conquer
Not too long ago, Ford (NYSE:F) reported its third quarter financial results, which needless to say at this point, trounced the expectations put forth by analysts. Earnings came in at 45 cents per share — 5 cents more than the same period a year ago. Revenues of $36 billion beat expectations by nearly $2 billion. Financially speaking, it was a stellar quarter for Ford, which is coming closer to completing what has been an overall tremendous year for the automaker. Through the first nine months of the year, January through September, Ford pulled in a pre-tax profit of $7.3 billion — a full billion more than it had under its belt for the year-ago period.
Any number of factors played a role in Ford’s continuous push. Improved, more desirable models undoubtably played a significant role in Ford’s success. Higher fuel efficiency range-wide, as well as a revitalized and re-energized lineup of cars that has played a crucial role in helping Americans re-evaluate what characteristics define a segment (think of the new Fusion, or even the new Escape). Coupled with the high-demand staples like the Mustang and the F-Series, Ford’s appeal has only increased.
However, international markets have also played a key role in Ford’s upswing this year. Wall St. Cheat Sheet spent some time speaking with Ford’s Chief Financial Officer Bob Shanks, and hear directly from him what implications these markets held for the company.