Automotive manufacturer Ford (NYSE: F) will be reporting results tomorrow after market hours. Here’s what you need to know.
Ford beat analysts’ revenue expectations by 5.5% last quarter, reporting revenues of $48.21 billion, up 4.9% year on year. It was a stunning quarter for the company, with a solid beat of analysts’ sales volume and EBITDA estimates.
Is Ford a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Ford’s revenue to decline 10% year on year to $38.49 billion, a reversal from the 3.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.02 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Ford has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Ford’s peers in the automobile manufacturing segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Winnebago’s revenues decreased 11.9% year on year, beating analysts’ expectations by 0.6%, and General Motors reported revenues up 2.3%, topping estimates by 2.7%. Winnebago’s stock price was unchanged after the results, while General Motors was down 4.2%.
Read our full analysis of Winnebago’s results here and General Motors’s results here.
There has been positive sentiment among investors in the automobile manufacturing segment, with share prices up 13% on average over the last month. Ford is up 11.1% during the same time and is heading into earnings with an average analyst price target of $9.94 (compared to the current share price of $10.27).
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