Ford Motor Company (F - Free Report) will announce results for the second quarter of 2019 on Jul 24. In the last reported quarter, this carmaker’s earnings and revenues surpassed the Zacks Consensus Estimate.
Over the past three months, shares of Ford have outperformed the industry it belongs to. During that period, the stock has gained 8% in comparison with the industry’s 0.4% growth.
The U.S. auto manufacturer reported a plunge in vehicle sales in the United States in second-quarter 2019. During the quarter, Ford announced a 4.1% year-over-year decline in units sold in the United States. However, sales of the company’s truck models remained strong, which was more than offset by weak passenger car sales and an overhaul of a factory, which manufactures a key SUV model.
Although the picture does not appear bright, the company’s range of trucks and SUVs, and newly launched vehicles, with favorable average transaction price, are likely to aid quarterly results.
Consumers’ shifting preference toward big and spacious vehicles augmented Ford’s truck and SUV sales. This encouraged the company to come up with a varied range of technically-enhanced and large interior vehicles. Further, the global drive toward clean-energy vehicles impelled this automaker to offer vehicles with non-combustion engines.
Earnings Schedules of Other Major Auto Companies
Among other automotive companies, General Motors Company (GM - Free Report) and Allison Transmission Holdings, Inc. (ALSN - Free Report) are scheduled to report second-quarter results on Aug 1, whereas Honda Motor Co., Ltd. (HMC - Free Report) will report earnings on Aug 2.
All the above-mentioned stocks currently carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term earnings growth rates for Honda, General Motors and Allison Transmission are 6.7%, 8.9% and 10%, respectively.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>