Welcome to Extreme Investor Network, where we provide you with the latest updates in the world of business news. Today, we are taking a closer look at Ford Motor Company’s first-quarter earnings report, set to be announced after the markets close on Wednesday. Let’s dive into what Wall Street is expecting based on average analyst estimates compiled by LSEG.
The Ford display at the New York International Auto Show on March 28, 2024.
Danielle DeVries | CNBC
According to the analysts, Ford is expected to post earnings per share of 42 cents adjusted, with automotive revenue reaching $40.10 billion. These results would represent a 2.6% increase in revenue compared to the previous year, but a 32.9% decline in adjusted earnings per share.
Ford’s first-quarter 2023 results included $39.09 billion in revenue, net income of $1.8 billion, or 44 cents per share, and adjusted earnings before interest and taxes of $3.38 billion. The company’s 2024 guidance, released in February, outlined adjusted earnings before interest and taxes between $10 billion and $12 billion, adjusted free cash flow of $6 billion to $7 billion, and capital spending of $8 billion to $9.5 billion.
While some analysts view Ford favorably, others have expressed more cautious opinions. Morgan Stanley considers Ford its “top pick,” but UBS analyst Joseph Spak prefers General Motors over Ford. Ford has been dealing with challenges such as inflated warranty costs and operational inefficiencies, which have impacted its earnings.
Investors will be closely monitoring CEO Jim Farley’s “Ford+” restructuring plan and any advancements in the company’s all-electric vehicle plans. Stay tuned for updates as this story continues to develop.
— Stay informed with Extreme Investor Network for the latest business news updates.
