The Detroit-based car giant is struggling with quality-related costs and stiff competition in its EV business.
Ford beat on sales but missed on earnings last night. Despite the disappointment, Ford grew sales nicely and earnings declined by only a penny.
Analysts at the Bank of America remain positive on Ford Motor Company (NYSE:F) after the automaker's second quarter earnings disappointed and sparked a sell-off of the stock. Shares of Ford were down 18% at $11 on Thursday afternoon.
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.