Ford’s Big Win – First Quarter Earnings 🚗

Ford’s Big Win – First Quarter Earnings

As the most notable tech names deliver their first-quarter earnings reports, there are other big players that also hold large value in defining consumer behavior and the broader economy. In the automobile space, the fourth largest automaker in the world, Ford, just delivered its earnings report that shocked analysts. During a macro environment where large personal expenditures can even be more costly, Ford was still able to deliver on the top line; in automotive revenue, Ford brought in $39 billion compared to the expected $36 billion, citing the expansion of demand for their fleet and legacy truck operations.

After a subpar first quarter last year, Ford was also able to reverse its losses into a larger-than-expected profit. For the first quarter, Ford posted $1.8 billion in net income as they continue to solve supply chain issues and capitalize on robust demand. For the full year, Ford projects adjusted earnings between $9 billion and $11 billion, however, their EV division is slated to lose some money. In a bid to gain market share against competitors such as Tesla, Ford has slashed EV prices to capture new markets; the division itself lost over $700 million in the quarter and is expected to lose $3 billion in 2023 as they continue to expand and attack a saturated industry. Regardless, it seems the $50 billion automaker is on track for major innovation and growth as it recovers from a year of setbacks and losses.

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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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