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Joey Maruskin with his children Angelina and Joseph Maruskin and the Lincoln Navigator L 2018 Black Label SUV at their home in Highland Township on Wednesday, February 28, 2018.(Photo: Ryan Garza, Detroit Free Press)Buy a photo

Ford Motor Co. saw its price increase 9.9% Thursday, the day after the publication of its report on the results of the third quarter.

"I'm puzzled as to why Ford's shares are making their biggest jump in years," said John McElroy, respected industry observer and host of Autoline.tv. "I guess what analysts like is Ford's margins in North America, which shows that its strategy to pull out cars certainly looks like a smart strategy."

Early in the day, the stock posted the largest percentage increase in a day since August 2011, according to Marketwatch. The price per share was $ 8.99 to 16:07. EDT.

The gain of one day scarcely erases years of suffering for the stock. It has spent most of its last two weeks at its lowest level in nine years, falling to $ 8.19, below the $ 8.89 mark on September 1, 2009.

"We are not standing still," Ford CEO Jim Hackett said at the close of the market on Wednesday. "We are building a better and more resilient society."

He added, "We have to keep our foot in the throat of our performance."

The Dearborn-based automaker reported net income of $ 1 billion in the third quarter, down 37% from a year earlier.

Bob Shanks, Ford's chief financial officer, did not point to President Donald Trump's trade war or steel prices in Wednesday's press review, but answered questions and confirmed that problems related to Tariffs had had a net impact of about $ 1 billion in operating costs. Ford executives said they hoped the steel and aluminum pricing problems would be resolved soon.

Ford's profits continue to be pulled by North America, with higher profit margins on the Ford F-Series, Ford Expedition and Lincoln Navigator.

Revenue from North American sales increased 6.7% to $ 22.3 billion, an increase of $ 1.4 billion from 2017. This decrease is a result of lower car sales. , implementing the strategy announced earlier this year by Hackett, which specializes in pickup trucks and SUVs.

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Ford's worldwide revenues increased 3% to $ 37.6 billion in the third quarter and its earnings before interest and taxes decreased 27% to $ 1.7 billion. Net income after tax and interest was $ 1 billion.

Ford has seen gains in India and the strength of Ford Credit. Cash flows are "larger and larger" with $ 23.7 billion in cash and $ 34.7 billion in total cash.

"I know you want to know more and we are fully committed to providing details as soon as we can," Hackett told the results conference.

Mark Stevens, 4th generation business owner and welder with his 2014 Ford F-150 XLT, Monday, November 21, 2017 at Stevens Custom Welding in Port Huron. Stevens bought the vehicle last spring to replace an older F-150. (Photo: Brittany Greeson, Free Press Special)

Hackett pointed out the Hiring a new CEO of Ford China and establishing business in China as a stand-alone company intended to accelerate decision-making regarding products of the largest automotive market in the world.

Jeremy Acevedo, head of data strategy at Edmunds, was not surprised by a rally in the market after earnings surpassed analysts 'expectations: 29 cents per share, surpassing analysts' average consensus (28 cents per share). action). That was down 44 cents a share a year earlier.

"The company has made a significant effort to respond to the most important criticism it has received recently," he said. "While the issues surrounding the company's restructuring plan remain unresolved, Jim Hackett has finally provided a decent track record for the next two years, which should cause investors to wait a little longer until they reach the end of the year. fresh products revitalize their aging portfolio. "

Hackett told analysts that the company would offer updates in the weeks and months ahead.

He told analysts that the company would share more information about Ford's "global overhaul" as well as upcoming "strategic partnerships" that may include Volkswagen.

Garrett Nelson, Senior Equity Analyst at CFRA Research for the Automotive Industry, said Ford Credit has had its best results in more than seven years. "The details of the restructuring remain rare, but we appreciate Ford's focus on high-margin pickup trucks and SUVs."

Skeptics continue to monitor Ford's financial landscape.

"The market reflects a combination of fundamental financial fundamentals and confidence in leadership." Ford's senior management assured the market that she stayed on top of things and was working to ensure the future viability of the company. said Marick Masters, a professor of commerce at Wayne State University. "The devil is in the details and in the execution." Ford can convey the message that Eisenhower has already conveyed: "Plans matter less than planning." The important thing is to know your business and know where do you want to go."

Brad Carroll, spokesman for Ford, said: "The whole business is changing urgently and taking proactive steps to restructure and restructure its business, we will build on our strengths, strengthen products and sub-regions. We believe that over time, the market will continue to recognize our progress. "

Contact Phoebe Wall Howard: [email protected] or 313-222-6512. Follow her on Twitter @phoebesaid

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