(The story has been updated to revise the increase in pre-tax earnings.)
Ford Motor Co., riding high on North American demand for pickups and SUVs, saw pre-tax third-quarter profits more than double – but the maker nonetheless disappointed Wall Street by falling short of analysts’ expectations for even more.
Dearborn, Michigan-based Ford earned $2.7 billion before taxes, and 128% year-over-year increase. But net earnings were up an even more dramatic 129%, to $1.9 billion, or 48 cents per share compared with 27 cents during the third quarter of 2014.
“We’re on a really, really strong track,” declared Bob Shanks, Ford’s Chief Financial Officer. (more…)