First-Quarter Ford Commercial Unit Earnings Offset EV Losses

(CTN News) – During the first quarter of 2010, Ford Motor Company posted higher profits than Wall Street expected due to strong sales of its trucks, and other commercial vehicles, offsetting losses in its electric vehicles segment.

The automaker beat earnings estimates for the ford quater, but auto revenue fell slightly short of analysts’ expectations, even though the company beat earnings estimates.

There has been no change in the company’s earnings forecast for the year 2024, according to the company, which said they were not changing.

It is expected that capital expenditures will be slightly lower than last year, however, the company will be able to generate free cash flow for the year as well as higher adjusted free cash flow than last year as well.

It is important to note that Ford provided a number of key points for its 2024 guidance, including adjusted earnings before interest and taxes, or EBIT, of between $10 billion and $12 billion, adjusted free cash flow of between $6 billion and $7 billion, and capital spending between $8 billion and $9.5 billion.

The results have been listed below for your review, so please take a moment to read them.

• According to LSEG, it reported an adjusted EPS of 49 cents, while the company was expected to report an adjusted EPS of 42 cents

• Revenues from the automotive industry came in at $39.89 billion, compared to LSEG’s $40.10 billion expectation

There are $39.09 billion in revenue generated by Ford for the first quarter of 2023, which represents 44 cents per share, and a net income of $1.8 billion, which is a profit of $0.80 per share, along with adjusted earnings before interest and taxes of $3.38 billion for Ford during the first quarter of 2023.

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