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Ford (F) earnings Q1 2024

The Ford show on the New York Worldwide Auto Present on March 28, 2024. 

Danielle DeVries | CNBC

DETROIT — Ford Motor is saying first-quarter earnings after the markets shut Wednesday.

Here’s what Wall Road expects, based mostly on common analyst estimates compiled by LSEG:

  • Earnings per share: 42 cents adjusted
  • Automotive income: $40.10 billion

These outcomes would mark a 2.6% improve in income in comparison with a yr earlier and a 32.9% decline in adjusted earnings per share. Ford’s first-quarter 2023 results included $39.09 billion in income; web revenue of $1.8 billion, or 44 cents per share; and adjusted earnings earlier than curiosity and taxes of $3.38 billion.

The automaker’s 2024 steerage launched in February included adjusted earnings earlier than curiosity and taxes, or EBIT, of between $10 billion and $12 billion; adjusted free money movement of $6 billion to $7 billion; and capital spending of $8 billion to $9.5 billion.

There’s much less consensus on Wall Road round Ford’s efficiency than there was for its crosstown rival General Motors, which on Tuesday reported robust first-quarter outcomes and raised its full-year guidance. Ford is Morgan Stanley’s “prime decide,” however others on Wall Road are much less bullish on the corporate.

“Whereas we do like Ford relative to suppliers, we additionally proceed to desire GM relative to [Ford],” UBS analyst Joseph Spak mentioned in an investor notice earlier this month.

Ford has confronted years of inflated guarantee prices, together with $1.9 billion in 2023, which have affected its earnings. The corporate final yr mentioned it has a $7 billion to $8 billion annual drawback in comparison with conventional rivals as a result of manufacturing prices, high quality points and different operational inefficiencies.

Traders might be awaiting enhancements in these areas in addition to progress in CEO Jim Farley’s “Ford+” restructuring plan, which was first introduced in 2021, and any additional updates or delays to its all-electric car plans.

— CNBC’s Michael Bloom contributed to this report.

It is a growing story. Please examine again for updates.

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