The post Ford Motor (F) earnings Q3 2023 appeared on BitcoinEthereumNews.com.

 2024 Ford F-150 Raptor Ford DETROIT — Ford Motor is set to report its third-quarter earnings after the bell Thursday. Here’s what Wall Street is expecting, according to average estimates compiled by LSEG, formerly known as Refinitiv. Adjusted earnings per share: 45 cents Automotive revenue: $41.22 billion Those results would be increases of more than 50% in adjusted EPS and 10.8% in automotive revenue compared to a year earlier. Aside from earnings, Wall Street will be watching the impact of the United Auto Workers union’s nearly six-week strike against the automaker, which ended Wednesday night for Ford after the sides reached a tentative agreement. Barclays analyst Dan Levy estimates the total strike impact to Ford was $600 million to $700 million. That would be less than the $800 million impact, including $200 million in the third quarter, GM reported Tuesday. “While we await final details, the headline terms appear inline with our expectations entering the strike, and likely priced into the stock,” Levy said in an investor note late-Wednesday. The overall cost increase of the agreement, which must still be ratified by members, is estimated to be $6.2 billion over the terms of the four-and-a-half-year deal, according to Deutsche Bank. The deal includes 25% pay increases over the terms of the agreement, including an initial increase of 11%. The raises and benefits cumulatively raise the top wage to more than $40 an hour, including an increase of 68% for starting wages to over $28 an hour. It also includes reinstatement of cost-of-living adjustments, a three-year path to top wages and right to strike over plant closures. among other significantly enhanced benefits. The Detroit automakers have been navigating ongoing strikes by members of the UAW after the union and the companies failed to reach tentative labor deals by a Sept. 14…

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Filed under: News - @ October 26, 2023 4:24 pm