Ford Motor Stock Rises. The Pro Business Had Great Margins.
Wednesday evening, Ford reported first-quarter earnings of 49 cents a share and an operating profit of $2.8 billion from sales of $42.8 billion. Wall Street was looking for earnings of 43 cents a share and an operating profit of $2.5 billion on sales of $42.9 billion, according to FactSet. Ford stock rose 2.3% to $13.25 in after-hours trading.
Ford Q1 earnings beat expectations
Ford has reported a strong set of first quarter financial results that beat analyst expectations. Revenues in the period were put at $42.8 billion (Q1 2023:$41.5 billion), while net income was $1.3 billion (Q1 2023: $1,3 billion) and adjusted EBIT $2.8 billion ($3.4 billion in Q1 2023).
Ford’s electric vehicle unit reported that losses soared in the first quarter to $1.3 billion, or $132,000 for each of the 10 ...
CEO Jim Farley confirmed that the company is working on new affordable EVs that could be priced between $25,000 to $30,000,.
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Ford Motor is playing to its sweet spot: selling big trucks to big commercial fleets, while electric vehicles and other parts ...
CFO John Lawler said the guidance for full-year EBIT is unchanged but the company is now predicting adjusted free cash flow ...
Stock futures traded lower Thursday and technology shares fell sharply after Meta Platforms issued a disappointing ...
A Chicago man was charged with driving under the influence and reckless homicide in a crash on Interstate 57 that left two ...
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