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Ford Motor (F) earnings Q2 2023

Ford Mustang on show on the NY Auto Present, April 6, 2023.

Scott Mlyn | CNBC

DETROIT — Ford Motor is reporting second-quarter earnings after the markets shut Thursday.

The Detroit automaker is predicted to report outcomes which are strong however not as sturdy because the $1.91 in adjusted earnings per share that crosstown rival General Motors reported Tuesday.

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This is what Wall Avenue expects from Ford, primarily based on common analyst estimates compiled by Refinitiv:

  • Adjusted earnings per share: 55 cents
  • Automotive income: $40.38 billion

These outcomes would mark a year-over-year increase of 6.5% in automotive income however a virtually 20% decline in adjusted EPS. The corporate’s earnings in the course of the second quarter of 2022 have been assisted by excessive car costs amid decrease stock ranges.

The corporate reported web earnings of $667 million on whole income of $40.19 billion during the second quarter of 2022.

There’s strain on Ford after GM raised its yearly steerage Tuesday for the second time this 12 months.

In Might, Ford reiterated that it expects full-year adjusted earnings of between $9 billion and $11 billion and roughly $6 billion in adjusted free money stream. Ford stated it plans to have capital expenditures of between $8 billion and $9 billion in 2023.

Additionally in Might, the automaker started reporting its monetary results by business unit, as a substitute of by area. The Detroit automaker earlier this 12 months launched revised outcomes for 2021 and 2022 in keeping with the brand new construction.

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Ford Motor vs. Common Motors inventory efficiency

A lot consideration shall be on Ford’s “Mannequin e” electrical car enterprise, which misplaced $2.1 billion final 12 months on an working foundation and $722 million within the first quarter of this 12 months, wider than year-ago losses because it ramped up EV manufacturing.

The automaker not too long ago reduce pricing by as a lot as $10,000 on the F-150 Lightning pickup as manufacturing and stock ranges enhance.

Wall Avenue analysts on Tuesday criticized the slow rollout of GM’s electrical automobiles and questioned the automaker’s EV technique relating to pricing, gross sales targets and a choice to revive the Chevy Bolt months after asserting its discontinuation.

Ford is prone to face comparable scrutiny over its personal EV funding technique, in keeping with Morgan Stanley analyst Adam Jonas.

“Each GM and Ford are extremely seen examples of the challenges in on-shoring superior EV battery know-how in a worthwhile approach at scale,” Jonas stated in a Wednesday investor observe.

Traders are also keen to listen to about any extra insights relating to what are anticipated to be difficult contract negotiations with the UAW union. Buoyed by a yearslong nationwide labor motion, new management and file firm income, the negotiations are anticipated to be among the many most contentious in latest reminiscence.

The talks formally kicked off earlier this month between the union and GM, Ford Motor and Stellantis. The present contracts are set to run out Sept. 14 and canopy roughly 150,000 UAW members who work for the automakers.

— CNBC’s Michael Bloom contributed to this report.

That is breaking information. Please test again for updates.

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