Ford reported that Q2 EPS came in at 47 cents, down 35% compared to a year ago. Meanwhile, quarterly revenue increased 6% to $47.8 billion. Ahead of earnings, analyst consensus had Ford earnings of 68 cents per share and sales totaling $47.79 billion, according to FactSet.
The company also announced its 2024 adjusted EBIT view of $10 billion-$12 billion is unchanged while raising its adjusted free cash flow outlook by $1 billion to between $7.5 billion and $8.5 billion.
Meanwhile Ford also continues to anticipate a full-year loss of $5 billion-$5.5 billion for its EV segment.
Ford stock plunged 13% after the market closed Wednesday, after falling 1.3% to 13.65 during regular market action.
https://www.investors.com/news/ford-earnings-fall-ford-stock-plunges/