Shares of Ford (NYSE:F) gained in after-hours trading after the company reported earnings for its second quarter of Fiscal Year 2023. Earnings per share came in at $0.72, which beat analysts’ consensus estimate of $0.54 per share. Sales increased by 12% year-over-year, with revenue hitting $45 billion. This beat analysts’ expectations of $41.32 billion.
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Looking forward, management raised its guidance and now expects adjusted EBIT and adjusted free cash flow for FY 2023 to be in the ranges of $11 billion to $12 billion and $6.5 billion to $7 billion, respectively.
Overall, Wall Street has a consensus price target of $14.83 on Ford stock, implying 7.85% upside potential, as indicated by the graphic above.