Ford beats on earnings, raises the lower end of its guidance

Ford on Thursday reported third-quarter earnings that topped analysts’ expectations, and raised the lower end of its 2017 guidance.

The automaker reported adjusted earnings per share of $US0.43, outpacing the Wall Street consensus of $US0.33, according to Bloomberg.

Net income rose year-on-year to $US1.60 billion from $US1 billion.

The company said profits were “driven by North America and a record 3Q pre-tax profit in Asia Pacfic,” according to the earnings release.

“With improved operating performance, and traction against cost initiatives, tightening adj. EPS guidance range to $US1.75 to $US1.85,” Ford said.

Ford’s F-Series had its best third-quarter sales performance since 2005, gaining 14% versus a year earlier. The average transaction per truck jumped $US2,800 versus a year ago to $US45,400.

Ford shares are up about 2% ahead of the opening bell. They have less than 1% this year.

Get the latest Ford stock price here.

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