Ford Q2 Earnings Highlights: Revenue Beat, EPS Miss, Transit Vans Hit Record, EV Sales Fall 37%
Portfolio Pulse from Chris Katje
Ford Motor Company (NYSE:F) reported Q2 earnings with a revenue beat but an EPS miss. Revenue was $47.8 billion, up 6% YoY, beating the $44 billion estimate. EPS was 47 cents, missing the 68 cents estimate. Ford Blue and Ford Pro segments showed growth, while Ford Model e saw a 37% decline in revenue. The company reiterated its full-year EBIT guidance and plans to increase production capacity for Super Duty trucks.
July 24, 2024 | 8:29 pm
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Ford reported Q2 revenue of $47.8 billion, beating estimates, but missed on EPS with 47 cents. Ford Blue and Pro segments showed growth, while Model e saw a 37% decline. The company reiterated its full-year EBIT guidance and plans to increase production capacity for Super Duty trucks.
Despite the revenue beat, the EPS miss and significant decline in the Model e segment's revenue are likely to weigh on investor sentiment. The after-hours drop of 11.19% reflects this negative reaction. However, the reiterated full-year guidance and plans to increase production capacity may provide some long-term optimism.
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