Ford suspended its dividend and withdrew its FY2020 guidance
given at the time of its fourth quarter 2019 earnings announcement. The company
had guided for adjusted EPS of $0.94 to $1.20 at the time. Ford now plans to
give an update on the full-year guidance in April when it reports its first
quarter 2020 earnings results.
Ford also decided to stop production at its plants in North
America and Europe for the time being due to the COVID-19 crisis.
The company, along with its US dealers, is also offering payment relief for six months to its new-car buyers. Ford has offered to pay for three months and allow payment deferrals for three more months for customers who buy its 2019 and 2020 model-year vehicles.
Ford’s shares were down over 5% in midday trade on Thursday. The stock has dropped 47% over the past one month.