These Highlights Drove Ford Motor Company's Solid Third-Quarter Despite Slowing Sales

Earlier this month, October 3^rd to be precise, Ford Motor Company's (NYSE: F) CEO Jim Hackett delivered a presentation with plans to shake up the automaker's strategy going forward. Unfortunately, the strategic presentation had few details which left most analysts and investors looking toward Thursday's third-quarter presentation for a reason to be optimistic about the path ahead. The good news? Ford easily topped estimates and posted a solid quarter despite declining sales.

Ford's revenue checked in at $36.5 billion during the third quarter, up from the prior year's $35.9 billion, despite a slight decline in wholesale volume and market share. On the bottom line, Ford's net income jumped more than 60% to reach $1.56 billion, or $0.39 per share. When adjusted for one-time items Ford's earnings per share checked in at $0.43 per share which was well above analysts' calling for $0.32 per share.

"This quarter, we achieved more balanced results, with improvements in growth, profitability and cash flow. Ford Credit also continues to perform well. Our solid results give us confidence to tighten our full-year adjusted EPS guidance to the high end of the range, now at $1.75 to $1.85." said Bob Shanks, Executive Vice President & CFO, in a press release.

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Source: Fool.com