Ford Motor Co (NYSE:F) reported first-quarter revenue of $42.8 billion, with EPS of $0.49, beating the consensus estimate of $0.42.
The following is the opinion of two analysts regarding Ford's first-quarter earnings.
BofA Securities- Reiterates Buy, $21 price target
Analyst John Murphy said the operating beat was driven by strong volume growth in Pro and lower losses in Model e, while Blue partially worked as an offset due to the timing of 60K F150s held in inventory.
Taxes acted as a headwind, coming in higher than expected, noted the analyst.
Ford updated its 2024 outlook, with slight adjustments to FCF and Capex, while other components were largely unchanged.
Ford is planning for 2024 industry-wide pricing to be down roughly 2%, which should play out mostly in 2H, and the analyst agrees ...