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Why Record Q3 Profits Are Not Helping Ford Shares

Ford Motor Co. (NYSE: F) reported third-quarter 2015 results before markets opened Tuesday. The automaker posted adjusted diluted earnings per share (EPS) of $0.48 on revenues of $38.1 billion. In the same period a year ago, the company reported EPS of $0.24 on revenues of $34.9 billion. Third-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $0.47 and $35.07 billion in revenues.

Automotive revenues totaled $35.82 billion in the quarter, up from $32.78 billion in the third quarter of 2014. Financial services revenues totaled $2.33 billion, up from $2.14 billion a year ago.

The consensus analysts’ estimate for fourth-quarter EPS is $0.52 on revenues of $35.55 billion. For the full year, the consensus estimates call for $1.69 in EPS and revenues of $137.6 billion.

North American sales totaled $23.7 billion and pretax profit came to $2.7 billion, an amount Ford said is a third-quarter record...