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Ford (F) Stock Slips After Q1 Earnings Forecast Misses Estimates
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Ford Motor Co. (F - Free Report) stock dropped on Thursday, down almost 2% to $11.57 per share after the Michigan-based company said it expects lower earning per share and pretax profit in the first quarter.
Ford expects first quarter adjusted earnings per share in the range of $0.30 to $0.35. The company’s projection falls short of the Zacks Consensus Estimate of $0.45 per share.
The auto manufacturer had predicted last year that its profit would fall in 2017 before rebounding in 2018 as Ford invests to fit market needs.
Ford said in the SEC filing that its slow sales resulted from “declining sales volume in the United States, Europe or China market, due to the financial crisis, recession, geopolitical events, or other factors." The company sees higher costs in commodities and investments, lower-than-anticipated market acceptance of Ford’s products, and unfavorable exchange rates as the leading causes of the lower-than-expected profit.
The U.S. automaker said it expects the pretax profit for 2017 to be $9 billion “which is lower than in 2016 driven by our planned investments in emerging opportunities and to improve in 2018.”
Perhaps part of the planned investments could be Ford’s plan to start building their luxury brand, Lincoln, in China by 2019. Announced in early March, Ford will be operating from an existing assembly plant with Changan Automobile Group to build a new sports utility vehicle model to suit the taste of the world’s largest automobile market. (To learn more about Ford’s Plan in China, check out this Zacks article: Here’s Ford’s Plan to Build Lincolns in China by 2019)
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>
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Ford (F) Stock Slips After Q1 Earnings Forecast Misses Estimates
Ford Motor Co. (F - Free Report) stock dropped on Thursday, down almost 2% to $11.57 per share after the Michigan-based company said it expects lower earning per share and pretax profit in the first quarter.
Ford expects first quarter adjusted earnings per share in the range of $0.30 to $0.35. The company’s projection falls short of the Zacks Consensus Estimate of $0.45 per share.
The auto manufacturer had predicted last year that its profit would fall in 2017 before rebounding in 2018 as Ford invests to fit market needs.
Ford said in the SEC filing that its slow sales resulted from “declining sales volume in the United States, Europe or China market, due to the financial crisis, recession, geopolitical events, or other factors." The company sees higher costs in commodities and investments, lower-than-anticipated market acceptance of Ford’s products, and unfavorable exchange rates as the leading causes of the lower-than-expected profit.
The U.S. automaker said it expects the pretax profit for 2017 to be $9 billion “which is lower than in 2016 driven by our planned investments in emerging opportunities and to improve in 2018.”
Perhaps part of the planned investments could be Ford’s plan to start building their luxury brand, Lincoln, in China by 2019. Announced in early March, Ford will be operating from an existing assembly plant with Changan Automobile Group to build a new sports utility vehicle model to suit the taste of the world’s largest automobile market. (To learn more about Ford’s Plan in China, check out this Zacks article: Here’s Ford’s Plan to Build Lincolns in China by 2019)
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere
1 billion iPhones in 10 years but a new breakthrough is expected to generate more
than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging
phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may
kick yourself in 2020. Click here for the 6 trades >>