Ford Motor Q1 Results Top Estimates; Backs FY17 Profit View

Ford Motor Q1 Results Top Estimates; Backs FY17 Profit View

Earnings per share for Ford were 39 cents in comparison to 36 cents that Wall Street was expecting.

Ford earned $10.4 billion in operating profit past year, though results were down slightly from 2015's record of $10.8 billion.

Overall costs and expenses rose 7% to $37.7 billion from the same quarter last year, Ford said, a condition it has said will result in lower full-year profit, along with lower volumes and an unfavorable exchange rate owing to a stronger USA dollar. Ford recalled more than 360,000 vehicles because of the risk of engine fires and 210,000 vehicles for defective door latches.

Operating cash flow improves marginally Ford Motor Company has generated cash of $4,336 million from operating activities during the quarter, up 4.51 percent or $187 million, when compared with the a year ago period.

Ford announced two North American product recalls in March that cost the company $295 million.

Ford delivered 1.7-million vehicles globally in the first quarter, while Daimler delivered 754,300, of which 568,100 were Mercedes-Benz cars.

New York Jets Select Jamal Adams
Veteran safety Marcus Gilchrist will likely miss the start of the season after suffering a torn patellar tendon in December. Among the positions they could go for include a quarterback, cornerback, safety, edge rusher, tight end or a running back.

Ford (F) posted stronger-than-expected earnings Thursday but cautioned that rising costs will hit its full-year bottom line.

Ford anticipates its North American profit will decline from 2016 because of "headwinds on commodities and increased investment in emerging opportunities", though it expects the operating margin to remain relatively strong.

Ford's market share declined by 0.5 percent to 14.1 percent in North America largely because of lower fleet sales. That would be approximately $1.4 billion less than its results from 2016. The Dearborn, Michigan-based company reported a first-quarter net profit of $1.6 billion (1.25 billion pounds), or 40 cents per share, down 36 percent from $2.5 billion, or 61 cents per share, a year earlier. USA retail share was up, reflecting higher share in trucks, utilities and Lincoln. In the year-ago quarter, the cable and internet service provider reported adjusted earnings of 43 cents per share, GAAP earnings of 42 cents per share and $18.8 billion in revenue.

Transaction prices for its new cars and trucks rose $1,971 year-over-year, according to Ford, compared with an industry average increase of $506. Revenue rose slightly as the company sold a higher mix of high-profit trucks and SUVs.

Ford shares gained 2.1 per cent to $11.84 in premarket trading. In Europe, in a recovering market profit before taxes was $176 million and in Asia $124 million.

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