Jim Farley, CEO of Ford Motor Company, shown astatine the May unveiling of the caller all-electric F-150 Lightning.
Ford reported better-than-expected results Wednesday, citing a "significant" betterment successful semiconductor availability successful the latest 4th and announcing it would reconstruct dividends.
The Detroit giant, which has joined different large automakers successful cutting backmost accumulation amid a planetary spot shortage, saw little revenues tied to a driblet successful car income compared with the year-ago period.
But Ford said semiconductor availability successful the latest 3 months was "markedly improved" from the anterior quarter, adjacent arsenic proviso "remains a challenge."
Profits fell 23 percent to $1.8 cardinal connected a 5 percent driblet successful revenues to $35.7 billion, the automaker said successful a statement.
Ford lifted its full-year operating nett forecast and said its committee voted to reinstate a dividend. Investors volition get 10 cents a stock connected December 1.
Like General Motors and different rivals, Ford is aggressively ramping up investments successful electric vehicles. The company has unveiled an all-electric mentation of its fashionable F-150 pickup motortruck and plans a caller F-Series motortruck works successful Tennessee.
The company's stock terms roseate 3.7 percent to $16.09 successful after-hours trading.
© 2021 AFP
Citation: Ford lifts forecast, citing amended semiconductor proviso (2021, October 27) retrieved 27 October 2021 from https://techxplore.com/news/2021-10-ford-citing-semiconductor.html
This papers is taxable to copyright. Apart from immoderate just dealing for the intent of backstage survey oregon research, no portion whitethorn beryllium reproduced without the written permission. The contented is provided for accusation purposes only.
English (US) ·