Ford Motor Company F analysts are praising the company's Ford Pro segment while the electric vehicle segment sees some concerns, after the company reported second-quarter financial results.
Making electric vehicles (EVs) isn't easy. Even for legacy automaker Ford (NYSE: F ), which has been around since 1903.
Ford's (F) second-quarter 2024 earnings miss estimates. It now expects adjusted free cash flow in the range of $7.5-$8.5 billion, up from the previous outlook of $6.5-$7.5 billion.
Ford Motor Co (NYSE:F) stock missed second-quarter profit expectations due to warranty costs , but beat on revenue.
Ford is leading a decline in major U.S. automotive stocks after missing Wall Street's bottom-line earnings for the second quarter. Shares of Ford were off by more than 17% in early trading Thursday – on pace for their worst decline since 2009.
Ford reported second-quarter earnings that fell short of analyst expectations, causing the automaker's shares to dip 14% on Thursday toward the company's worst loss in nine months and erasing gains for the year, as other automotive stocks tumbled.
Ford Motor NYSE: F is in the consumer discretionary sector and is the third-largest automobile company in the United States by market capitalization. The company reported Q2 2024 financial results on July 24, 2024.
U.S. stock futures were lower this morning, with the Nasdaq futures dipping around 0.5% on Thursday.
Ford (F) shares tumbled nearly 14% in premarket trading Thursday after the automaker reported quarterly earnings that came in below expectations and kept its full-year bottom-line outlook unchanged, as warranty costs continued to weigh on the company's profitability.
24/7 Wall St. Insights Most of the blame for the big hit to Ford Motor Co.
When it comes to EVs, bigger is not always better, according to Ford's CEO. Jim Farley told investors Ford needs to pivot from giant trucks to smaller, more affordable EVs.
Ford Motor shares listed in Frankfurt plunged 8% on Thursday, after the Detroit automaker reported a drop in second-quarter adjusted profit.