Whle Ford (F) - Get Ford Motor Company Report expects lower profitability overall in 2017, it foresees improvement in some key markets like Asia-Pacific. Ford Chief Financial Officer Bob Shanks said that Ford also expects higher profits in the Middle East, Africa and South America, while Europe will be weaker.
Ford reported adjusted earnings of 30 cents a share on revenue of $38.7 billion in its latest quarter, which exceeded Wall Street expectations.
Ford has said profitability will be lower this year as it makes investments for the future. But, Shanks said those investments will not include new plants in the U.S., as further capacity is not needed. Additionally, Shanks said Ford is currently modeling how a potential drop in corporate taxes may impact its results. He said there likely would be a longer-term benefit.