Ford Motor Co. has posted a stronger-than-expected third-quarter net profit as demand for cars and trucks recovers from coronavirus shutdowns and the company sells more high-margin trucks.
The car maker said on Wednesday it made $US2.39 billion ($A3.39 billion), or 60 cents per share, as factories edged back to normal after the pandemic forced them to close earlier in the year.
Net income was more than five times what it was a year ago.
The company says it now expects positive pre-tax income for the full year between break even and $US500 million in the fourth quarter.
Excluding one-time items, Ford made 65 cents per share, trouncing Wall Street estimates of 20 cents.
The company also took in revenue of $US37.5 billion, slightly below estimates of $35.73 billion from analysts polled by FactSet.
New Chief Financial Officer John Lawler said Ford expects fourth-quarter pretax income to run from break even to a $US500 million loss but it expects to have positive pre-tax income for the full year.