F - Why Ford Motor Company Stock Crashed 17% Today
2024-07-25 15:14:02 ET
Stock of Ford Motor Company (NYSE: F) , one of America's Big Three automakers , collapsed 16.7% through 12:45 p.m. ET Thursday after the company reported a huge earnings miss last night.
Analysts had forecast Ford would earn $0.68 per share on $44 billion in Q2 sales. While Ford exceeded the revenue number easily, with $47.8 billion in quarterly sales, profits came in short of expectations at just $0.47 per share.
Not all the news was bad. Ford sold 1.14 million vehicles in this year's Q2, 23,000 more than last year's Q2. Revenue rose 6% year over year. Operating cash flow grew 10%, to $5.5 billion, as did automotive free cash flow, rising to $3.2 billion, and Ford remained profitable on the bottom line.
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Why Ford Motor Company Stock Crashed 17% Today