Ford (F) Q1 2024 Earnings | Wilnesh News

Detroit- Ford First-quarter earnings will be released after the market close on Wednesday.

Here’s what Wall Street is expecting, based on an average of analyst forecasts compiled by London Stock Exchange Group (LSEG):

• Earnings per share: Adjusted 42 cents
• Car income: $40.1 billion

These results meant revenue grew 2.6% from a year earlier and adjusted earnings per share fell 32.9%. Ford’s first quarter 2023 results include revenue of $39.09 billion; net profit of $1.8 billion, or 44 cents per share; and adjusted earnings before interest and taxes of $3.38 billion.

The automaker’s 2024 guidance issued in February included adjusted earnings before interest and tax (EBIT) of $10 billion to $12 billion; adjusted free cash flow of $6 billion to $7 billion; and capital expenditures of $80 billion. billion to US$9.5 billion.

Wall Street has less consensus on Ford’s performance than its cross-town rivals General MotorsThe company reported strong first-quarter results on Tuesday and raised its full-year guidance. Ford is Morgan Stanley’s “top choice,” but others on Wall Street are less optimistic about the company.

“While we do like Ford relative to suppliers, relative to (Ford), we Still prefer GM.

Ford has faced problems with high warranty costs for years, which will reach $1.9 billion by 2023, affecting its profits. The company said last year that it was losing $7 billion to $8 billion annually compared with traditional rivals due to production costs, quality issues and other operating inefficiencies.

Investors will be watching for improvements in these areas as well as progress on the “Ford+” restructuring plan first announced by CEO Jim Farley in 2021, as well as any other updates or delays to its all-electric vehicle plans.

—CNBC Michael Bloom contributed to this report.

This is a development story. Please check back for updates.