Ford Motor Company (F) shares surged 5.11% in pre-market trading on Friday, following the automaker's impressive third-quarter earnings report and announcement of plans to boost production of its popular F-Series trucks.
The company reported better-than-expected Q3 results, with earnings per share of 45 cents surpassing analysts' estimates of 36 cents. Revenue also beat expectations, coming in at $50.5 billion, up 9% from the previous year. The strong performance was largely driven by robust sales of gasoline-powered trucks and SUVs, which continue to be the primary profit generators for Ford.
Despite facing challenges from a recent fire at a critical aluminum supplier's plant, Ford remains optimistic about its future prospects. The company announced plans to increase F-Series production by more than 50,000 trucks in 2026, creating approximately 1,000 new jobs. This move aims to make up for lost production and meet the strong customer demand for its most lucrative vehicles.
While Ford adjusted its full-year guidance to between $6 billion and $6.5 billion in adjusted earnings before interest and taxes, down from the previous $6.5 billion to $7.5 billion range, investors were encouraged by the company's ability to navigate supply chain disruptions and its focus on its core strengths. The revised guidance includes the impact of the supplier fire and other challenges, but Ford noted that without these issues, it would have raised its outlook.
The market's positive reaction to Ford's results and strategic plans underscores investor confidence in the company's ability to maintain profitability and adapt to changing market conditions. As Ford continues to leverage its strong position in the truck and SUV segments while also investing in electric vehicle technology, the stock's performance suggests that Wall Street sees potential for continued growth and success in the automotive industry's evolving landscape.