Ford Mustang on display at the NY Auto Show, April 6, 2023.
Scott Mlyn | CNBC
DETROIT — Ford Motor raised its 2023 guidance after second-quarter earnings significantly beat Wall Street expectations on strong pricing and demand for the automaker’s trucks.
Here’s how Ford did during the quarter, compared with what Wall Street expected based on average estimates compiled by Refinitiv:
- Adjusted earnings per share: 72 cents vs 55 cents expected
- Automotive revenue: $42.43 billion vs $40.38 billion expected
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There was pressure on Ford to raise its guidance after crosstown rival General Motors raised its yearly guidance Tuesday for the second time this year.
Ford Motor vs. General Motors stock performance
— CNBC’s Michael Bloom contributed to this report.
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