Categories Consumer, Earnings

Earnings: Ford goes up on solid Q1 performance

Ford Motor Company (NYSE: F) delivered solid first-quarter adjusted earnings of 44 cents per share, up 2.3% year-over-year, surprising Wall Street which had expected 26 cents per share. Revenue, meanwhile, fell 3.8% to $40.34 billion, but surpassed the street projection of $36.53 billion.

Following the announcement, the stock gained 7% during after-market trading on Thursday. The stock has gained 23% since the beginning of this year.

Photo by Nadine Shaabana on Unsplash

Q1 automotive revenue rose to $39.01 billion, increasing 5.3% compared to the same period last year.

In North America, market share and revenue both improved year-over-year, driven by the performance of franchise strengths in trucks and utilities. EBIT was $2.2 billion, up 16% due to stronger net pricing and product mix. Outside North America, the company had an EBIT loss of $196 million.

Ford goes up on solid Q1 2019 earnings performance

CFO Bob Shanks, who has announced his retirement and will be replaced by Amazon (NASDAQ: AMZN) executive Tim Stone said, “We expect first quarter EBIT to be the strongest of the year due to seasonal factors and major product launches ahead. It does, however, put us on track to deliver better company results in 2019 than last year.”


Last month, the carmaker announced its decision to discontinue the production of passenger vehicles in Russia, citing the growing pressure on profitability due to falling demand.

The closure of two assembly units and an engine factory – mostly by June this year – will lead to the JV Ford Sollers assuming control of the venture, focusing solely on commercial vehicles. Meanwhile, the process is expected to render a large number of employees jobless and result in Ford incurring charges of $450-$500 million.

Last year, the Detroit, Michigan-based automaker embarked on a massive reorganization involving large-scale workforce reduction and plant closures in the Americas and Europe. As part of the program, launched with the aim of returning to profitability in the loss-making markets, a number of plants were shut down and the management team was reshuffled.


Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

AVGO Earnings: All you need to know about Broadcom Q1 2021 earnings results

Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared

Infographic: Costco (COST) Q2 2021 sales up 15%; earnings miss

Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million

Will shifting to as-a-service model help Hewlett Packard in emerging stronger from COVID?

With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard

Add Comment
Viewing Highlight