Kennyhee
2021-06-17
Look out, Ford may move further up
Ford says second quarter earnings will 'surpass expectations'
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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFord says second quarter earnings will 'surpass expectations'\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-17 21:00 GMT+8 <a href=https://www.cnbc.com/2021/06/17/ford-says-second-quarter-earnings-will-surpass-expectations-.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>DETROIT –Ford Motoron Thursday said its adjusted pretax earnings for the second quarter will \"surpass its expectations\" and be significantly better than a year ago, while net income will be \"...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/17/ford-says-second-quarter-earnings-will-surpass-expectations-.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.cnbc.com/2021/06/17/ford-says-second-quarter-earnings-will-surpass-expectations-.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1182176652","content_text":"DETROIT –Ford Motoron Thursday said its adjusted pretax earnings for the second quarter will \"surpass its expectations\" and be significantly better than a year ago, while net income will be \"substantially lower\" than the same period last year.\nThe company released the broad guidance ahead of a presentation by Ford CEO Jim Farley at Deutsche Bank's global automotive industry conference Thursday afternoon.\n\"The improvement in automotive is being driven by lower-than-anticipated costs and favorable market factors,\" the company saidin a press release.\"Additionally, higher vehicle auction values are benefitting Ford Credit.\"\nThe first half of the year has been better than many expected for automakers such as Ford. Supply constraints due to parts problem have led to higher vehicle prices and profits.\nFord's comments come a day afterGeneral Motorssaid it expects adjusted pretax earnings of $8.5 billion to $9.5 billionduring the first half of the year, up from an estimated $5.5 billion.\nIn April, Ford forecasted its full-year adjusted pretax profit to be between $5.5 billion and $6.5 billion, including an adverse effect of about $2.5 billion from the semiconductor issue. Adjusted free cash flow for the full year was projected to be $500 million to $1.5 billion.\nFord said net income for the second quarter is expected to be substantially lower than a year ago, when results included a $3.5 billion gain in an investment in its self-driving Argo AI unit with Volkswagen. 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