Ford reports less quarterly earnings than expected
January 16, 2019 | Investopaper
Ford shares decreased by 2.4% percent this Wednesday after the company reported less earnings in its fourth quarter than expected. The second largest U.S. automaker said that it looks for improvement in its earning and revenue this year.
The company said that the decline in global industry sales has led to the fall in its earnings. Also, tariffs and high commodity costs impacted the earnings of the company in 2018.
The company is expected to make a comeback this year through new product sales which includes Ford Ranger pickup truck and Explorer sport utility vehicle. Similarly, restructuring initiatives, gaining a recovery in China and redesigning its operations in Europe will help to revitalize the company.
Ford said it expects 2018 adjusted earnings of $1.30 a share on revenue of $160.3 billion. For the fourth quarter, Ford expects adjusted earnings of 30 cents a share, below the 32 cents analysts were expecting.
