Shares of Ford (NYSE:F) fell in after-hours trading after the company reported earnings for its first quarter of Fiscal Year 2023. Earnings per share came in at $0.63, which beat analysts’ consensus estimate of $0.42 per share. Sales increased by 21.7% year-over-year, with revenue hitting $39.09 billion. This beat analysts’ expectations of $37.42 billion.
Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Ford went on to reaffirm its earlier-released guidance, as it expects Fiscal Year 2023 earnings before interest and taxes to come in between $9 billion and $11 billion. It also expects adjusted free cash flow to reach nearly $6 billion.
Overall, Wall Street has a consensus price target of $13.77 on Ford stock, implying 17.14% upside potential, as indicated by the graphic above.