Ford Shares Down After Hours on Earnings Miss and Weak Forecast
Ford
Shares of Ford Motor Co. (F) - Get Report fell in after-hours trading Wednesday after the truck and auto maker missed analyst profit estimates for the second quarter and offered a downbeat full-year forecast.
The stock lost 68 cents, or 6.6%, to $9.65 in after-hours action.
Ford reported earnings per share of 28 cents, after accounting for one-time items. Analysts surveyed by FactSet were expecting the company to make 31 cents a share.
Revenue for the quarter was $38.9 billion vs. expectations of $38.5 billion.
For the year-earlier period the company posted earnings of 27 cents a share on sales of $38.9 billion.
The company forecast full-year adjusted EPS of $1.20 to $1.35 vs. $1.30 last year.
Ford said the guidance is "based on the current economic environment, including the status of commodities, foreign exchange and tariffs."