Moneymoney

Wed Jul 24, 2019, 05:41 PM

Ford Shares Down on Earnings Miss and Weak Forecast

Truck and auto maker comes in light on earnings, sees challenging year ahead.

By Tom Bemis
Jul 24, 2019 4:59 PM EDT

Shares of Ford Motor Co. (F - Get Report) fell in after-hours trading Wednesday after the truck and auto maker missed analyst profit estimates for the second quarter and offered a downbeat full-year forecast.

The stock lost 68 cents, or 6.6%, to $9.65 in after-hours action.

Ford reported earnings per share of 28 cents, after accounting for one-time items. Analysts surveyed by FactSet were expecting the company to make 31 cents a share.

Revenue for the quarter was $38.9 billion vs. expectations of $38.5 billion.

For the year-earlier period the company posted earnings of 27 cents a share on sales of $38.9 billion.

The company forecast full-year adjusted EPS of $1.20 to $1.35 vs. $1.30 last year.

Ford said the guidance is "based on the current economic environment, including the status of commodities, foreign exchange and tariffs."

https://www.thestreet.com/investing/earnings/ford-shares-down-after-hours-on-earnings-miss-and-weak-forecast-15031991

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Reply Ford Shares Down on Earnings Miss and Weak Forecast (Original post)
RCW2014 Jul 24 OP
uncledad Jul 24 #1
RCW2014 Jul 24 #2
uncledad Jul 25 #3

Response to RCW2014 (Original post)

Wed Jul 24, 2019, 05:55 PM

1. New-Vehicle Sales Fall to 1999 Levels

Ford waited until today to report its second-quarter new-vehicle deliveries in the US. So now we know what happened to total US auto sales in the second quarter and in the first half this year, and it wasn’t pretty. New-vehicle deliveries, fleet and retail combined, fell 1.5% in Q2 compared to Q2 last year, to 4.5 million vehicles; and in the first half fell by 2.4% to 8.4 million vehicles.

This puts new vehicle sales on track to fall below 17 million units for the year. This would be the worst level since 2014. According to my own estimates, new vehicle sales in 2019 will decline to 16.95 million units, roughly on par with 1999, in a horribly mature market, whose two-decade stagnation was interrupted by the excitement of a collapse and recovery back to stagnation levels:

https://wolfstreet.com/2019/07/03/new-vehicle-sales-fell-in-q2-sales-for-2019-to-drop-to-1999-level-20-years-of-stagnation/

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Response to uncledad (Reply #1)

Wed Jul 24, 2019, 06:42 PM

2. The place to watch for the first signs of recession are the "showroom" floors... eom

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Response to RCW2014 (Reply #2)

Thu Jul 25, 2019, 08:42 AM

3. Showroom ...

The discounting is getting deeper, a little shopping around on the internet...

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