Automotive manufacturer Ford (NYSE:F) will be reporting earnings this Tuesday after market hours. Here’s what investors should know.
Ford beat analysts’ revenue expectations last quarter, reporting revenues of $43.25 billion, up 6.4% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ adjusted operating income estimates.
Is Ford a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Ford’s revenue to decline 1.2% year on year, a reversal from the 5% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Ford has a history of exceeding Wall Street’s expectations.
Looking at Ford’s peers in the automobile manufacturing segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Mobileye posted flat year-on-year revenue, beating analysts’ expectations by 4.7%, and General Motors reported revenues up 1.9%, topping estimates by 2.9%. Mobileye traded down 9.2% following the results while General Motors was up 8.4%.
Read our full analysis of Mobileye’s results here and General Motors’s results here.
In the last year or so, investors have shifted their focus from one macro dynamic to the next (AI disintermediation and AI investment to geopolitical conflict, interest rates, and the health of the wider economy). While some of the automobile manufacturing stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 3.5% on average over the last month. Ford is up 2.4% during the same time and is heading into earnings with an average analyst price target of $15.05 (compared to the current share price of $14.35).
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