Ford Motor Company (NYSE:F) reported its results for the third quarter. Net income for the auto manufacturer fell to $1.65 billion (41 cents per share) vs. $1.69 billion (43 cents per share) a year earlier. This is a decline of 2.3% from the year earlier quarter. Revenue rose 14% to $33.1 billion from the year earlier quarter. F reported adjusted net income of 46 cents per share. By that measure, the company beat the mean estimate of 44 cents per share. It beat the average revenue estimate of $29.86 billion.
“We delivered solid results for the third quarter despite an uncertain business environment by continuing to serve our customers around the world with best-in-class vehicles,” said Alan Mulally, Ford president and CEO. “We accomplished this while continuing to invest for future growth and focusing on developing outstanding products with segment-leading quality, fuel efficiency, safety, smart design and value.”
Competitors to Watch: General Motors Company (NYSE:GM), Toyota Motor Corp. (NYSE:TM), Daimler AG (DDAIF), HONDA MOTOR CO., LTD. (NYSE:HMC), Nissan Motor Co., Ltd. (NSANY), Tesla Motors Inc (NASDAQ:TSLA), Volkswagen AG (VLKAY), Navistar Intl. Corp. (NYSE:NAV), PSA Peugeot Citroen S.A. (PEUGY), and Spartan Motors, Inc. (NASDAQ:SPAR).
The Boeing Company (NYSE:BA) reported net income above Wall Street’s expectations for the third quarter. Net income for the aerospace/defense products and services company rose to $1.1 billion ($1.46 per share) vs. $837 million ($1.12 per share) in the same quarter a year earlier. This marks a rise of 31.2% from the year earlier quarter. Revenue rose 4.5% to $17.73 billion from the year earlier quarter. BA beat the mean analyst estimate of $1.11 per share. Analysts were expecting revenue of $17.92 billion.
“Strong operational performance drove double-digit margins in both of our major businesses and produced an outstanding quarter,” said Boeing chairman, president and chief executive officer, Jim McNerney. “We also strengthened our foundation for accelerated growth by completing development and certification of the 787-8 Dreamliner and 747-8 Freighter, launching the new 737 MAX, and continuing our disciplined ramp up in commercial airplane production rates. Our improved outlook for earnings reflects confidence in our market positions, and our team’s relentless focus on productivity and disciplined execution.”
Competitors to Watch: Lockheed Martin Corp. (NYSE:LMT), Embraer SA (NYSE:ERJ), Raytheon Company (NYSE:RTN), Northrop Grumman Corp. (NYSE:NOC), Honeywell Intl. Inc. (NYSE:HON), Spirit AeroSystems Hldgs., Inc. (NYSE:SPR), General Dynamics Corp. (NYSE:GD), Orbital Sciences Corp. (NYSE:ORB), Alliant Techsystems Inc. (NYSE:ATK), and Rockwell Collins, Inc. (NYSE:COL).