Ford Motor Co
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Consumer Discretionary : Automobiles | Large Cap ValueCompany profile

Ford Motor Company is a global automotive and mobility company. The Company's business includes designing, manufacturing, marketing, and servicing a full line of Ford cars, trucks, and sport utility vehicles (SUVs), as well as Lincoln luxury vehicles. The Company operates in four segments: Automotive, Financial Services, Ford Smart Mobility LLC, and Central Treasury Operations. The Automotive segment primarily includes the sale of Ford and Lincoln brand vehicles, service parts, and accessories across the world. The Financial Services segment primarily includes its vehicle-related financing and leasing activities at Ford Motor Credit Company LLC. Ford Smart Mobility LLC is a subsidiary formed to design, build, grow, and invest in emerging mobility services. The Central Treasury Operations segment is primarily engaged in decision making for investments, risk management activities, and providing financing for the Automotive segment.

Postmarket

Last Trade
Delayed
$9.02
0.01 (0.11%)
Bid
--
Ask
--
B/A Size
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Market Hours

Closing Price
$9.01
Day's Change
-0.01 (-0.11%)
Bid
--
Ask
--
B/A Size
--
Day's High
9.07
Day's Low
8.96
Volume
(Light)
Volume:
21,898,172

10-day average volume:
30,274,506
21,898,172

UPDATE: Sales winners in the third quarter include Netflix, Autodesk and PayPal

7:56 am ET November 13, 2019 (MarketWatch)
Print

By Philip van Doorn, MarketWatch

Plenty of companies have produced double-digit sales increases and wider profit margins during an otherwise dismal earnings season

There's no question that third-quarter earnings season has been pretty bad. But there are always companies that outperform, and we have listed a group of sales-growth winners below.

First, the bad news

Through Monday, 97% of the S&P 500 had reported results for fiscal quarters ended July 26 or later. According to the most recent Consensus Snapshot report from S&P Global Market Intelligence, combined and weighted earnings per share (EPS) for the S&P 500 were down an estimated 4.1% from a year earlier -- which was even worse than the estimate of a 3.3% decline a month ago.

That runs counter to the usual trend among sell-side analysts of setting up earnings "beats" by incorporating lowered guidance from the companies they monitor into earnings (and sales) estimates that are, arguably, too low. Then again, according to S&P Global, 86% of the reporting companies have beaten consensus earnings estimates, 62% have beaten sales estimates and 57% have beaten both.

Here's a summary of the most recent estimates for changes in third-quarter earnings per share from a year earlier:

S&P 500 sector Estimated change in EPS

Communications Services 0.07%

Consumer Discretionary -0.01%

Consumer Staples -0.54%

Energy -31.58%

Financials 1.73%

Health Care 1.81%

Industrials 0.94%

Information Technology -8.56%

Materials -20.65%

Real Estate -14.34%

Utilities -3.77%

S&P 500 Index -4.11%

Source: S&P Global Market Intelligence

That's a lackluster quarter, reflecting a less-than-favorable market for commodity and energy prices, as well as the effect of the trade conflict between the U.S. and China on the technology sector. Semiconductor manufacturers were hit particularly hard.

However, investors have been hopeful of an easing of trade tensions, or at least a resumption of sales growth (http://www.marketwatch.com/story/semiconductor-stocks-are-poised-to-benefit-as-industry-sales-growth-resumes-in-2020-2019-10-10) for the semiconductor group next year from 2019's lower base. The iShares PHLX Semiconductor ETF (SOXX), which holds all 30 stocks in the PHLX Semiconductor index, has risen 52% year-to-date.

Sales and margin winners

Any company will wish to increase its revenue, but it will also try to improve its gross margin, which is its sales, less the cost of goods sold, divided by sales. It is a measure of a company's pricing power. An expanding margin as sales rise is a very good sign. A narrowing margin may indicate the company is being forced to defend its market share with discounts or is pushing sales growth over profitability. If the margin continues to narrow, the company may be facing a very difficult market for its products or services.

Gross margin isn't used by analysts who track banks and insurance companies.

Among the S&P 500 companies that had announced results for fiscal quarters ended July 26 or later through Nov. 12, here are the 20 that reported the largest increases in sales, while also expanding their gross margins:

Company Ticker Industry Sales growth - most recent quarter from a year earlier Change in sales per share - most recent quarter from year-earlier quarter Gross margin - most recent quarter Gross margin - year-earlier quarter

Fiserv Inc. US:FISV Data Processing Services 122% 53% 48.31% 45.33%

Newmont Goldcorp Corp. US:NEM Precious Metals 56% 2% 22.85% 20.81%

Prologis Inc. US:PLD Real-estate investment Trusts 38% 26% 44.12% 36.22%

CVS Health Corp. US:CVS Drugstore Chains 36% 7% 17.78% 15.90%

Fidelity National Information Services Inc. US:FIS Data Processing Services 35% -14% 34.87% 34.55%

Marathon Petroleum Corp. US:MPC Oil Refining/Marketing 35% -7% 8.84% 7.84%

Netflix Inc. US:NFLX Cable/Satellite TV 31% 31% 40.93% 39.68%

Autodesk Inc. US:ADSK Software 29% 27% 88.76% 88.04%

MarketAxess Holdings Inc. US:MKTX Investment Banks/Brokers 28% 27% 87.19% 86.60%

Alexion Pharmaceuticals Inc. US:ALXN Biotechnology 23% 24% 85.14% 83.33%

NextEra Energy Inc. US:NEE Electric Utilities 23% 8% 34.52% 28.29%

Incyte Corp. US:INCY Biotechnology 23% 22% 93.02% 92.61%

Intuitive Surgical Inc. US:ISRG Medical Specialties 23% 22% 69.63% 69.53%

Dominion Energy Inc. US:D Electric Utilities 22% -2% 61.86% 61.40%

CenterPoint Energy Inc. US:CNP Electric Utilities 21% 4% 16.27% 14.24%

Copart Inc. US:CPRT Mis. Commercial Services 21% 24% 43.65% 40.91%

Fortinet Inc. US:FTNT Computer Communications 21% 21% 71.16% 70.15%

Vertex Pharmaceuticals Inc. US:VRTX Biotechnology 20% 20% 85.96% 85.79%

PayPal Holdings Inc. US:PYPL Data Processing Services 19% 20% 44.47% 39.77%

Ansys Inc. US:ANSS Software 19% 19% 86.87% 86.25%

Source: FactSet

You can click on the tickers for more about each company.

(MORE TO FOLLOW) Dow Jones Newswires

November 13, 2019 07:56 ET (12:56 GMT)

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