Ford Motor Company (NYSE:F) is expected to swing to a profit year-over-year when it reports its third-quarter results after the market closes on Thursday.
The automaker is projected to post earnings of $0.43 per share on revenue of $38.96 billion for the period ended September 30, compared to a loss of $0.21 per share on revenue of $39.39 billion a year earlier.
Notably, this is the first quarterly report to capture any impact of the ongoing United Auto Workers strike, which began on September 15. Investors and analysts will be watching for updates on the company’s plan going forward when it holds its earnings call.
On Thursday, Ford let go of another 150 workers at a Detroit area plant, meaning the company has laid off over 2,730 workers due to the strike.
The latest layoffs affected the Sterling Axle plant in the Detroit metropolitan area, according to reports.
Shares of Ford traded 1.2% higher Friday afternoon at $11.69.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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