Ford Earned 23 Cents per Share

Our earnings winning streak has come to an end. This morning, Ford Motor (F) reported Q1 earnings of 23 cents per share. That’s three cents below estimates. Fortunately, Ford is sticking with its full-year guidance.

From the WSJ:

Ford Motor Co. reported net income was down 7% in the first quarter as profitability in North America and Asia was offset by losses in Europe and South America.

The Dearborn, Mich., auto maker said it earned $924 million, or 23 cents a share, in net profit for the just-ended quarter, about flat with the $989 million, or 24 cents a share, booked in the same year-ago period when the company had to spend more to recall and fix defective vehicles.

Revenue totaled $33.9 billion for the quarter, down 6% from a year earlier. Profits before taxes were $1.4 million, about flat from a year earlier.

Ford’s results missed analysts’ expectations of 26 cents a share, signaling a slow start to a year that Chief Executive Mark Fields has pledged would be more profitable than the last. Ford attributed the miss to analysts factoring in a lower tax rate than the actual rate for the quarter, a difference of about 2 cents.

Ford’s stock has budged little in the past year, down less than a percentage point through close Monday.

Ford looks to open a little higher today.

Posted by on April 28th, 2015 at 7:44 am


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