Ford Motor (F) Tops Q1 EPS by 7c

Ford Motor (NYSE: F) reported Q1 EPS of $0.49, $0.07 better than the analyst estimate of $0.42. Revenue for the quarter came in at $42.8 billion versus the consensus estimate of $42.94 billion.

Full-Year 2024 Outlook

Lawler, the CFO, said that Ford’s full-year adjusted EBIT guidance range is unchanged, with the company tracking to the higher end of the $10 billion to $12 billion range. The company now expects to generate adjusted free cash flow of $6.5 billion to $7.5 billion – up from the initial outlook of $6 billion to $7 billion provided earlier this year. Additionally, Ford is anticipating capital expenditures for the year of $8 billion to $9 billion – narrower than the $8 billion to $9.5 billion originally estimated and perhaps at the lower end of the range. The update reflects the company’s commitment to capital discipline and efficiency – including recent actions to match investments in support of electric vehicles to revised expectations for the pace of EV adoption by customers. The company remains on plan to achieve $2 billion in cost reductions in areas like materials, freight and manufacturing. The segment-level EBIT outlook remains $8 billion to $9 billion for Ford Pro and $7 billion to $7.5 billion for Ford Blue; an EBIT loss of $5.0 billion to $5.5 billion for Ford Model e; and earnings before taxes of about $1.5 billion for Ford Credit.

For earnings history and earnings-related data on Ford Motor (F) click here.

You May Also Be Interested In

• AeroVironment restates quarterly financials, citing $89M goodwill error
• JPMorgan Starts ICICI Prudential Asset Management (ICICIAMC:IN) at Overweight
• Wintermar acquires full control of Fast Offshore Supply, adding 5 new CTVs