Ford to announce September sales results

Ford Motor Company will release its car sales figures for September on Wednesday 1 October.

Ford is trading at $16.34. The share price is down 8.3% since the company announced its second-quarter results in July, in which earnings per share exceeded estimates and revenues came in below expectations. The strong earnings figure was attributed to the cost cutting but traders were concerned about the decline in revenue.

The company stated it is on track to hit its full-year pre-tax profit target of between $7-$8 billion. However, the warning that the firms operations in South America will post a larger loss than initially anticipated rattled traders. On a positive note, the European division turned a profit for the first time in three years.

The September sales update will feed into the third-quarter figures that are out on 24 October 2014. The consensus is for an EPS of $0.3 and revenue of $34.15 billion.

The share price is getting support at $15.34. Positive results from the September sales report could drive the stock up to $16.12.

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