Ford reported smaller-than-expected quarterly losses, but restructuring is still ongoing

News

Ford reported smaller-than-expected quarterly losses, but restructuring is still ongoing

06.08.2020 News

Shares of Ford Motor Co dropped to 1.93% on Friday after the closing of trading on Thursday, automaker reported results of achievement in three months from April to June. Since the beginning of the year, Ford shares have fallen by 28.9%.

Ford Motor reported second-quarter losses of – $ 0.35 per share, which is better than analysts’ forecasts at – $ 1.17 loss per share, but significantly worse rate of $ 0.34 per share in the corresponding quarter last year.

Total quarterly revenue decreased from 50% to $ 19.4 billion, it is higher than Wall Street expectations of $ 15.95 billion.

In fact, in spite of the closure of Ford’s car plants in the early second quarter in many major markets, the company managed to reduce losses from the expected $ 5 billion to $ 1.9 billion.

In Europe, Ford production resumed at all plants by May 4. Most plants in North America returned to operation on May 18, and by the end of the quarter, production in the region had reached 95% of the pandemic level. Ford management said that all regions exceeded expectations.

In the third quarter, Ford expects to make a profit of $ 500 million to $ 1.5 billion, but at the same time, company forecasts a return to losses in the fourth quarter and for the whole year.

Ford’s weak fourth-quarter outlook largely reflects production problems and the cost of launching a new version of the lucrative full-size F-150 pickup for the 2,021 model year.

In its restructuring efforts, Ford also plans to release new Ford Bronco and Bronco Sport SUVs, which should appear in showrooms next year. Just a few weeks after the announcement of Bronco, the automaker received more than 150,000 pre-orders.

In addition to redesigning the cars, the company is working in a strategic “electrification” partnership with Volkswagen, Rivian and Mahindra to strengthen own global presence.

Ford is preparing to release the Mustang Mach-E electric SUV, just company pre-orders for the entire first year are only 50,000 units.

Analysts say the restructuring of Ford will take more time and money, that complicated by the decline in consumer demand in the pandemic time. Wall Street today expects that Ford supplies will recruit strong turnover by 2022.

Other articles

  • Tesla plans to produce the Model Y with the new technology battery at the plant in Berlin
    News

    Tesla plans to produce the Model Y with the new technology battery at the plant in Berlin

    Shares of Tesla rose by 2.73% to $ 425.30 on Wednesday amid overall stock index growth, however, this growth was lower than the growth of shares of competitors such as Ford, General Motors and Chinese automaker NIO, which rose by 3.58%, 4% and 4.3% respectively. Tesla’s current share price of $ 77.19 is below the […]

  • Lamborghini has set the car sales record
    News

    Lamborghini has set the car sales record

    In September 2020, the Italian company Lamborghini sold 738 cars worldwide. This is a new record for the company, according to its website. At the same time, in the third quarter of 2020, 2,083 Lamborghini cars were sold worldwide. In the spring of this year Lamborghini was forced to close all its plants for two […]

  • Tesla increased the production and supplies in the third quarter by one and a half times
    News

    Tesla increased the production and supplies in the third quarter by one and a half times

    Production and supplies of the American manufacturer of the electric vehicles Tesla grew in the third quarter of 2020 by almost 1.5 times a year, the company said in the release. Therefore, Tesla’s deliveries in the third quarter amounted to 139.3 thousand against 97 thousand in 2019, and the production – 145.036 thousand compared with […]

  • Airbus will lay off 15,000 employees due to the quarantine
    News

    Airbus will lay off 15,000 employees due to the quarantine

    European airline Airbus will lay off 15,000 employees worldwide due to the restoration of the quarantine restrictions on the flights. This was stated by the Airbus Chief Operating Officer Michael Schollhorn. Prospects for the aviation industry deteriorated again due to the growing number of the coronavirus infections, he said. According to Schollhorn, the situation in […]

  • PepsiCo fully recovered from the crisis in the 3rd quarter
    News

    PepsiCo fully recovered from the crisis in the 3rd quarter

    The company PepsiCo announced the best results of its third quarter, which ended on September 5. Shares of the PepsiCo have fully recovered after the falling in February and March due to the coronavirus pandemic and show the increase of 1.4% since the beginning of the year and 17.34% over the past 6 months. Shares […]

  • BMW will pay $ 18 million fine for distorting sales figures
    News

    BMW will pay $ 18 million fine for distorting sales figures

    BMW has agreed to pay 18 million dollars fine for distortion of sales data for five years. About it with reference to the Commission on securities and stock exchanges of the USA. According to the commission, from 2015 to 2019, BMW maintained a reserve of unaccounted for car retail sales, which it used to achieve […]

  • Musk plans to release the cheapest Tesla within three years
    News

    Musk plans to release the cheapest Tesla within three years

    At the Tesla Battery Day event, its founder Elon Musk announced the plans to build a budget electric car for $ 25,000 using a much cheaper battery. If the plans will be realized, the new car will be the most budgetable in the Tesla line. Nowadays the company’s cheapest model – sedan Model 3 – […]

  • Tiffany sued LVMH over the delay in the merger deal
    News

    Tiffany sued LVMH over the delay in the merger deal

    The multinational jewelry company Tiffany has filed a lawsuit in the court of the state of Delaware (USA) against the French luxury goods manufacturer LVMH (Louis Vuitton Moet Hennessy) for delaying the latest merger process. This was announced on Wednesday by the press service of the jewelry company. According to press service, LVMH group intentionally […]

Read also

Ford reported smaller-than-expected quarterly losses, but restructuring is still ongoing
News

Concern Fiat Chrysler is going to be fined for $ 70 million for statement fraud

One of the most famous car companies will get a multi-million fine for concealment of information in the financial statements for regulators. The supervisory authorities in the US announced that they intend to impose a fine on US-Italian concern Fiat Chrysler in the amount of $ 70 million for a significant underestimation of the number […]

Next
Ford reported smaller-than-expected quarterly losses, but restructuring is still ongoing
News

A large producer of sugar invests $ 10 million in the plant in the Mykolaiv region

The  ED&F Man Ukraine company plans to invest another $ 10 million in a sugar refinery in the Mykolaiv region and expand its land bank to 45-50 thousand Ha. The previous investments of the company in the mentioned plant consisted about $ 30 million. This was announced by the Director of ED&F Man Ukraine – […]

Next
Ford reported smaller-than-expected quarterly losses, but restructuring is still ongoing
News

Allseeds invested 25 million UAH in the infrastructure of the Yuzhnyi port

During the first phase of the implementation of technical specifications for the development of the transport infrastructure in the Yuzhnyi port, the Allseeds company packed 6 points and 900 m of the electrified tracks, established  3 shunting winches, performing works totaling for more than 25 mln. UAH, – says  the press -service of the company. […]

Next
Ford reported smaller-than-expected quarterly losses, but restructuring is still ongoing
News

Trump does not like the terms of the TikTok agreement with Oracle

US President Donald Trump has expressed dissatisfaction with the fact that under the terms of the agreement between ByteDance and Oracle, the Chinese company will retain a majority stake in the TikTok service, and Oracle will have a minority stake. This Trump said during the press briefing at the White House. Responding to the question […]

Next
Ford reported smaller-than-expected quarterly losses, but restructuring is still ongoing
Analytics

Court resolves not to give money for IOUs

If the promissory note is not specified by the time when the borrower is obliged to return the money, the court may grant derogation from the obligations under this document. In order to get money for the receipt, it is necessary to properly arrange it, Vesti reported. Do not give money on the receipt, in […]

Next
Ford reported smaller-than-expected quarterly losses, but restructuring is still ongoing
Analytics

Walnut Garden – a Long-term Investment

Gardening is a purely European business by mentality as it means long-term investments and a completely transparent process. Walnut is a financial pearl of this industry. A walnut garden of only 1 hectare yields more than 1.2 million UAH per year. A walnut garden is an investment in the future and long-term well-being, as one […]

Next
Ford reported smaller-than-expected quarterly losses, but restructuring is still ongoing
News

The EU will allocate 1.6 million for improve the air legislation of Ukraine

National Aviation Service will implement a project – Twinning, which provides technical and financial assistance of the EU, with the aim to bring Ukrainian aviation standards to the European ones. This was told by Alexander Bilchuk, chairman of the State Aviation Service of Ukraine. “The signing of the working agreement between the State Aviation Service and […]

Next
Ford reported smaller-than-expected quarterly losses, but restructuring is still ongoing
News

Insolvent Platinum Bank has attracted the attention of investors

On the site of Guarantee Fund deposits of natural persons it was made public the information about getting by Fund two applications from potential contributors to get acquainted with the documentation and reports of the insolvent bank for finance of the financial institution. It is reported on its website source InVenture. Also on the site […]

Next
Ford reported smaller-than-expected quarterly losses, but restructuring is still ongoing
News

ATB buys Barvinok network

As “Liga.net” reports, ATB will have finished the transaction on purchase of large West Ukrainian Barvinok retail network until the end of the year. ATB,the largest food retailer buys the Barvinok West Ukrainian network.The network has already changed the owner in 2015. Then Eurotek purchased it. The investment banker who wished to remain unnamed reported:”ATB […]

Next
Ford reported smaller-than-expected quarterly losses, but restructuring is still ongoing
News

Ukrainian startup Petcube received $ 2.6 million investments

Ukrainian startup Petcube,  which successfully sells  gadgets for pets, has attracted an investment in amount of $ 2.6 million from such investors as Almaz Capital and AVentures Capital, which previously invested in the start-up $ 1.1 million.  Also, in the round participated legendary business incubator Y Combinator; Ukrainians got into the program of the Y […]

Next
Ford reported smaller-than-expected quarterly losses, but restructuring is still ongoing
News

Shares of Volkswagen get down on 40%

Nordea, the €190bn (£135.6bn) Scandinavian fund manager, has become the first major investor to signal it is preparing to sue Volkswagen over the carmaker’s manipulation of emissions tests. Nordea Asset Management told reporters over the weekend that it planned to join “several different class actions” against Volkswagen. The emissions fixing scandal has left investors with billions of […]

Next
Ford reported smaller-than-expected quarterly losses, but restructuring is still ongoing
News

French Authorities Are Demanding that Airbus Stops Job Cuts

The management of the European Airbus Airline should find solutions to avoid the forced reduction of thousands of jobs. This was stated by Junior Minister of Economy of France Agnes Pannier-Rancher. “There should be no forced dismissals. This means that everyone should be able to choose and receive help, this is our line,” she said. […]

Next
Ford reported smaller-than-expected quarterly losses, but restructuring is still ongoing
News

Nezhin fat plant invests $ 50 mln. in the construction of oil-extracting factory

Recently was received an information that Nezhin fat plant will invest in the construction of a new oil-extracting factory. The Company appraises  the need for investment in the construction of this plant in the amount of about $ 50 million (of proprietary funds  and borrowed resources). Nezhin fat plant (Chernihiv region) plans to build the […]

Next
Ford reported smaller-than-expected quarterly losses, but restructuring is still ongoing
News

S&P forecasts 6% of the decline in Ukraine’s economy in 2020

The fall in gross of the domestic product of Ukraine in 2020 will amount to 6%, however, from the next year the economy will growth again: in 2021 – by 4%, in 2022-2023 – by 3% annually, such a forecast is contained in the report of the International Rating Agency Standard & Poor’s (S&P) on […]

Next
Ford reported smaller-than-expected quarterly losses, but restructuring is still ongoing
News

1 + 1 buys a large TV provider Viasat

1 + 1 media Group buys Ukraine’s largest satellite TV operator – Viasat. The seller was a Swedish media holding Modern Times Group (MTG). According to the informed sources, the amount of the deal could reach  300 – 500 million UAH ($ 15-20 million). The press service of the 1 + 1 media is short-spoken. […]

Next
Ford reported smaller-than-expected quarterly losses, but restructuring is still ongoing
News

State Property Fund in the early spring will repeat the auction for the sale of shares of Kherson CHPP

Almost 100% of the shares (99.83%) of Kherson heat and power plant will be re-auctioned by the State Property Fund of Ukraine. According to preliminary data it will be held on March, 16 of this year on sale with a starting price of 155 million UAH. It is reported by the source Sehodnia.ua. Terms of […]

Next
WP2Social Auto Publish Powered By : XYZScripts.com