#FordEarnings #AutomotiveTrends #FinancialOutlook
Ford Motor Company's Second-Quarter Earnings Miss Expectations
Ford Motor Company is set to announce its second-quarter earnings after the stock market closes on Wednesday. Analysts on Wall Street are forecasting adjusted earnings per share of 68 cents, alongside anticipated revenue of $44.02 billion. The leadership team at Ford will conduct an earnings conference at 5 p.m. Eastern Time on the same day.
Key Projections
- Adjusted earnings per share: 68 cents
- Automotive revenue: $44.02 billion
If these predictions hold true, it would reflect a 3.8% increase in revenue year-over-year, but a 5.2% drop in adjusted earnings per share. Last year, Ford's second-quarter results included revenue of $42.43 billion, a net income of $1.92 billion (47 cents per share), and adjusted earnings before interest and taxes (EBIT) totaling $3.79 billion.
Outlook for 2024
Ford's outlook for the year suggests adjusted EBIT will range between $10 billion and $12 billion, with free cash flow projected to be between $6.5 billion and $7.5 billion.
Industry Trends
In 2023, Ford's stock has risen approximately 15%, as pricing trends in the automotive sector have proven more robust than anticipated. However, the industry's shift towards electric vehicles has been progressing more gradually than expected, prompting Ford to revise its product strategy to emphasize hybrids over fully electric models. Recently, Ford announced plans to increase the production of its large Super Duty trucks at a Canadian facility that was initially intended to be transformed into a hub for electric vehicles.
Original Article: https://www.cnbc.com/2024/07/24/ford-motor-f-earnings-q2-2024.html
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