Ford Motor Co. CEO Jim Farley walks to talk to news conference at the Rouge Complex in Dearborn, Michigan, September 17, 2020.
Rebecca Cook | Reuters
DETROIT – Ford Motor has raised his earnings guide for the year after reporting a surprise profit, saying it is selling more auto that I am more expensive.
Its revenue has slightly fallen short of expectations due to the continuation global shortage of semiconductor chips.
Here you are how Ford compared with in based on what Wall Street expected on average estimates elaborated by Refinitiv.
- Fixed up results: 13 cents per minute share, adjusted vs a loss of 3 cents a share
- Car revenue: 24.13 billion dollars vs 24.25 billion dollars
Ford has raised its expectations for full-year adjusted earnings before tax of approximately $ 3.5 billion, between $ 9 billion and $ 10 billion. The volume should increase approximately 30% from the first to the second half of the year, led by an improvement in market factors, according to the company.
Ford last month said it is adjusted before taxes earnings for the second quarter would exceed his expectations and be “significantly better than a year before “, while net the income would be “substantially lower” than in the same period last year.
The company reported of net profit of $ 1.1 billion and a adjusted loss before tax of $ 1.9 billion during the second quarter of 2020.
In April, Ford predicted his adjusted profit before tax for the year to range from $ 5.5 billion to $ 6.5 billion, including a negative effect effect of about $ 2.5 billion from the semiconductor shortage. That impact was the high end of a previously driven loss due to the problem.
Outside of Ford earnings and any changes to the guide, Wall Street analysts will look for for updates on CEO Jim Farley’s Ford + turnaround plan, semiconductor chip shortage and new product launches.
Actions of Ford has more which has doubled since Jim Farley became CEO in October, including a more 50% jump so far this year.
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