Ford (F) reports Q1 earnings, shares jump

NYSE: F | Ford Motor Company Common Stock News, Ratings, and Charts

F – Ford Motor Co. stock rose more than 7% in the extended session Thursday after the carmaker reported first-quarter earnings.

Ford Motor Co. stock rose more than 7% in the extended session Thursday after the car maker reported first-quarter earnings above Wall Street expectations, thanks to “strong” results in its North American and credit businesses.

Ford F, +7.76%   said it earned $1.2 billion, or 29 cents a share, in the quarter, compared with $1.7 billion, or 43 cents a share, in the year-ago period. Adjusted for one-time items, Ford earned 44 cents a share, compared with 43 cents a share a year ago.

Revenue fell to $40.3 billion from $42 billion a year ago.

Analysts polled by FactSet had expected adjusted earnings of 27 cents a share on sales of $40.3 billion.

Ford pinned its lower sales on lower volumes due to the “global industry decline” and Ford’s discontinuing the Ford Focus in North America.

And profit was down from the year-ago period mostly because of charges around $600 million. The charges are related to Ford quitting its heavy-truck business in South America, which the company announced in February, and the redesign of Ford’s European operations, including a restructuring for the company’s Russia joint venture, announced in March.

Ford’s storied F-Series pickup trucks, long the No. 1-selling vehicle in the U.S., continued to perform well, the company said. Sales and segment share were both up year over year and the retail average transaction price was flat at about $47,000 per vehicle, “despite all-new products from competitors,” Ford said.

Ford has $24.2 billion in cash and $35.2 billion in liquidity, both above company targets of $20 billion and $30 billion, the company said.

Ford shares have fallen 15% in the past 12 months, versus gains around 11% for the S&P 500 index SPX, -0.04%  .


Ford Motor Co. shares rose $0.79 (+8.40%) in after-hours trading Thursday. Year-to-date, F has gained 27.02%, versus a 17.09% rise in the benchmark S&P 500 index during the same period.

F currently has a StockNews.com POWR Rating of B (Buy), and is ranked #6 of 25 stocks in the Auto & Vehicle Manufacturers category.


This article is brought to you courtesy of MarketWatch.

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