Ford Motor (F) Tops Q3 EPS by 4c
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Recall, product launch costs slash Ford third-quarter profit
October 27, 2016 7:07 AM EDTBy Bernie Woodall and Joseph White
DETROIT (Reuters) - Ford Motor Co (NYSE: F) reported a more than 50 percent drop in third-quarter net income on Thursday, saying its North American business suffered from lower sales, higher recall costs and a complicated introduction of a new pickup truck.
The profit exceeded Wall Street expectations, however. The automaker said it still expected full-year earnings of $10.2 billion and a return to positive cash flow after burning through $2 billion in the third quarter.
Net income dropped to $961 million, or 24... More
