The Clap
Ford (NYSE: F) reported a net loss of $827 million during Q3 2022 but still managed to beat expectations.
The Deets
The company recorded an adjusted EPS of 30 cents, more than the expected 27 cents. In addition, automotive revenue was recorded at $37.2 billion, also beating estimates of $36.25 billion.
Ford justified the poor earnings due to supply chain problems as well as investment for a vehicle unit.
In addition to that parts shortages and unexpected supplier costs took a toll on the company’s bottom line.
Why this Matters
Investors are looking at Ford and GM’s earnings for indicators related to demand for cars.
Increased interest rates, runaway inflation, and fears of a potential recession could all weigh in heavily on consumer spending.
