Ford Has Best Quarter in Company History, NYSE Goes Silly
Last fiscal quarter was a huge one in the history of the Ford Motor Company. Why? Because it was the biggest quarter in the history of the company. Strong sales of many of Ford’s key vehicles, including the Ford F-150, have pushed profits to record high. How did Wall Street repay their effort? Selling their stock off, dropping the price.
Net income last quarter was up $1.9 billion. Helping push that number is the fact that Ford is the number on automotive brand in the United States, and interestingly, Ford is ranked second in the United States for sales of electrified vehicles. The F-Series had it’s best third quarter since 2006, which was pre-recession.
With all of this good news, you’d think Wall Street would love Ford and want to be snapping it up. Prior to the announcement, the price per share was nearing $16. Now, it’s hovering just below $15 as of the time of this writing. It’s hard to explain why the NYSE does what it does, but it appears that investors were looking for a higher earnings per share?
Regardless, we like companies that make money, and it appears Ford is on a roll to make more and more of it.
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