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2021-06-21

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Ford says second quarter earnings will 'surpass expectations'

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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. The company reported a net profit of $1.1 billion during the second quarter of last year.","news_type":1},"isVote":1,"tweetType":1,"viewCount":258,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/164281712"}