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Ford Motor profit misses consensus by 15.4% in Q3

Ford Motor Co. said its third-quarter normalized net income came to 39 cents per share, compared with the S&P Capital IQ consensus estimate of 46 cents per share.

EPS increased 146.8% year over year from 16 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.56 billion, an increase of 146.2% from $635.8 million in the prior-year period.

The normalized profit margin rose to 5.1% from 1.8% in the year-earlier period.

Total revenue grew 9.2% year over year to $38.14 billion from $34.92 billion, and total operating expenses climbed year over year to $35.83 billion from $34.33 billion.

Reported net income increased 126.6% from the prior-year period to $1.92 billion, or 48 cents per share, from $847.0 million, or 21 cents per share.