Ford (F) Earnings & Revenues Drive Past Estimates In Q1

Ford Motor Company F reported first-quarter 2019 adjusted earnings per share of 44 cents, beating the Zacks Consensus Estimate of 26 cents. In the prior-year quarter, adjusted earnings were 43 cents per share. Results were impacted by the exit of heavy truck operation in South America and restructuring of the company’s joint venture in Russia, offset by robust performance in North America and at Ford Credit.

Adjusted earnings before income and taxes (EBIT) in the first quarter were $2.4 billion, reflecting an increase of $0.3 billion from the year-ago quarter.

During the reported quarter, Ford logged automotive revenues of $37.2 billion, surpassing the Consensus Estimate of $36.4 billion. In the prior-year quarter, the figure was $39 billion.

Ford Motor Company Price, Consensus and EPS Surprise

Ford Motor Company Price, Consensus and EPS Surprise | Ford Motor Company Quote

Ford Automotive

During the reported quarter, wholesale volume at the Ford Automotive segment declined 237,000 units to 1.43 million. EBIT was $2 billion, marking a decline of $0.3 billion from the year-ago quarter.

In North America, revenues increased $0.6 billion year over year to $25.4 billion during the reported quarter. Wholesale volume declined 43,000 units to 753,000. Further, EBIT was $2.2 billion, marking rise of $0.3 billion from the year-ago quarter. This rise was mainly due to stronger net pricing and product mix.

In South America, revenues declined $0.4 billion year over year to $0.9 billion. Pre-tax loss amounted to $158 million, owing to inflationary and adverse exchange effects. Moreover, wholesale volume declined by 18,000 units to 68,000.

In Europe, revenues decreased $1.3 billion to $7.6 billion. Wholesale volume decreased 58,000 units to around 391,000. The region’s EBIT was $57 million, marking a decline of $62 million in the first quarter of 2018.

In the Middle East & Africa segment, revenues were $0.6 billion. Further, wholesale volume declined 3,000 units to 22,000. The region recorded an EBIT of $14 million.

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