Ford Motor (NYSE:F) reported earnings for its third quarter of Fiscal Year 2022. Adjusted earnings per share came in at $0.30, which beat analysts’ consensus estimate of $0.27 per share. In the past nine quarters, the company has beaten estimates eight times.
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Sales increased 10% year-over-year, with revenue hitting $39.4 billion. This was higher than the $37.1 billion that analysts were looking for. However, the company demonstrated operating deleverage since its adjusted EBIT margin contracted from 8.4% to 4.6%.
Looking forward, management now expects adjusted EBIT for Fiscal Year 2022 to be 15% higher than last year at around $11.5 billion. What’s even more impressive is that adjusted free cash flow projections increased drastically.
Indeed, the range is now between $9.5 billion to $10 billion. For reference, the previous guidance was for $5.5 billion to $6.5 billion.
What is the Target Price for F Stock?
F has a Moderate Buy consensus rating based on seven Buys, six Holds, and two Sells assigned in the past three months. The average F stock price target of $16.47 implies 28.47% upside potential.
