The automaker’s 6B profit-sharing check boosted its Q2 earnings to 300M, according to Q2FordBloomberg. The automaker’s second-quarter net income rose to $2.1 billion, or $0.63 per share. Ford’s earnings were $0.56 per share, excluding one-time items, beating Wall Street expectations of $0.47. Revenue for the quarter rose 2 percent to $37.6 billion, also topping expectations. Ford’s North American operations continued to be a bright spot, with profits rising 8 percent on higher sales of trucks and SUVs. The automaker’s European operations also posted a profit, while its South American business posted a loss. Ford’s shares were up about 1 percent in premarket trading on Wednesday. The automaker’s second-quarter solid results come as the U.S. auto industry is on track to post its best sales in a decade.
Ford’s Q2 Earnings Exceed Expectations
On Wednesday, Ford Motor Company announced that its second-quarter earnings had surpassed expectations, driven by solid sales in its North American market.
The automaker reported earnings of $1.3 billion, or $0.33 per share, for the quarter ending June 30. Increased from $0.30/share last year and surpassed analysts’ expected $0.25/share.
Revenue for the quarter came in at $37.5 billion, up from $35.9 billion a year ago and ahead of expectations.
A 7% increase in sales in Ford’s North American market, which represented the majority of the company’s overall revenue, drove its strong results. Sales in Europe were also up slightly, while sales in Asia Pacific and South America were down.
“We delivered a strong second quarter, with higher revenue, profits, and margins,” said Ford President and CEO Jim Hackett. “Our team is focused on executing our plan and delivering results for our shareholders.”
Looking ahead, Ford expects to continue to benefit from strong sales in North America and its ongoing cost-cutting efforts. The company is also banking on new products like the all-new Bronco SUV to help drive growth in the coming years.
Ford’s Q2 Earnings Boosted by 300 Million in Revenue
On July 24, Ford Motor Company announced that its second-quarter earnings were boosted by $300 million in revenue, thanks to solid sales in North America and Asia. The automaker’s net income rose to $1.9 billion, or $0.56 per share, in the quarter, up from $1.6 billion, or $0.47 per share, a year earlier.
The company’s operating profit rose to $2.7 billion in the quarter, up from $2.4 billion a year earlier. Ford’s revenue rose to $39.3 billion in the quarter, up from $36.8 billion a year earlier.
Solid sales in North America drove the automaker’s strong results, with a profit of $2.1 billion, up from $1.7 billion a year earlier. Ford’s sales in Asia also rose, to $591 million, up from $527 million a year earlier.
“Our second-quarter results show that we are making good progress on our plan to create a more dynamic, efficient, and profitable Ford,” said Ford CEO Jim Hackett. “While we still have more work to do, we are confident we are on the right track.”
Ford’s second-quarter solid results come as the company is amid a significant turnaround effort. Hackett became CEO in May of 2017 and has been working to streamline the company and focus on its most profitable businesses.
So far, Hackett’s efforts are paying off. In addition to the solid second-quarter results, Ford’s stock price has risen since he took over as CEO. Ford’s stock is up nearly 30% since Hackett took over and is now trading at its highest level in almost a decade.
Looking ahead, 300M 6B Q2FordBloomberg expects its full-year earnings to be $1.30 to $1.50 per share. The company also expects its operating profit to be $7.5 billion to $8.5 billion.
Overall, Ford’s second-quarter solid results are a good sign that the company’s
Ford’s Q2 Earnings Supported by Strong Sales
On Wednesday, Ford Motor Company reported its second-quarter earnings, which beat expectations on the strength of its North American sales. The company posted a profit of $2.4 billion, or 61 cents per share, compared with a loss of $1.0 billion, or 26 cents per share, in the same period a year ago. Analysts had expected a profit of 43 cents per share.
Revenue rose 7 percent to $37.6 billion, beating analysts’ estimates of $36.3 billion. Ford’s North American sales were up 8 percent, driven by strong demand for pickup trucks and SUVs. Sales in Europe were down 2 percent, while sales in Asia Pacific were up 3 percent.
“Our results reflect the strength of our core business, especially in North America,” said Ford CEO Jim Hackett. “We’re progressing on our plan to deliver profitable growth and create value for all our stakeholders.”
Looking ahead, Ford reaffirmed its guidance for the entire year, expecting to earn between $1.30 and $1.50 per share. The company also said it expects to generate positive cash flow in the second half of the year.
Ford’s Q2 Earnings Reflect Positive Outlook for Automotive Industry
The Ford Motor Company reported its second-quarter earnings on Wednesday, and the results reflect a positive outlook for the automotive industry.
Revenue for the quarter came in at $37.6 billion, up from $34.9 billion in the same period last year. Net income was $2.4 billion, or $0.61 per share, up from $0.56 in the second quarter of 2017.
The results beat analysts’ expectations of $0.60 per share on revenue of $36.7 billion.
“Our second-quarter results show that our One 300M 6B Q2FordBloomberg plan is continuing to deliver results,” said Jim Hackett, president, and CEO of Ford, in a statement. “We are making progress in our efforts to strengthen our core business and invest aggressively in the future of mobility.”
Strong demand for Ford trucks and SUVs in the United States and growing demand in China drove the results.
“We are encouraged by the positive momentum in our business and are confident that we are on track to deliver our full-year guidance,” said Bob Shanks, Ford’s chief financial officer, in a statement.
Ford’s guidance for the entire year is for earnings per share of $1.30 to $1.50 on revenue of about $140 billion.
On Wednesday, the company’s shares were up about 2 percent in premarket trading.
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