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

  • Lufthansa has announced large-scale job-cuts
    News

    Lufthansa has announced large-scale job-cuts

    By the end of this year, the German airline Lufthansa intends to reduce its foreign staff by 20 thousand people, as well as sell its LSG division, which deals with on-board catering, which employs 7.5 thousand people. Lufthansa subsidiaries Eurowings, Swiss, Austrian and Brussels Airlines are reducing the frequency of flights, fleets and staff amid […]

  • Lincoln introduced the Nautilus hatchback
    News

    Lincoln introduced the Nautilus hatchback

    Automaker Lincoln Motor Company has introduced a new car Lincoln Nautilus. The basic version of the car has a 2-liter turbo engine with a capacity of 250 horsepower. The more powerful version is equipped with a 2.7-liter twin-turbocharged V6 engine with 335 hp. Both models have standard 8-speed automatic transmission. The interior of the car […]

  • Volkswagen is to invest $ 75 billion in “technology of the future”
    News

    Volkswagen is to invest $ 75 billion in “technology of the future”

    German automaker Volkswagen will invest about 73 billion euros over the next five years in electrification, hybrid powertrains and digital technology, the company said in a statement following a meeting of the supervisory board. In particular, about 35 billion euros are planned to be spent on electric cars on battery power, about 11 billion – […]

  • General Motors reports profit growth of 74%
    News

    General Motors reports profit growth of 74%

    Shares of General Motors, down by 3.7% since the beginning of the year, rose by 3.9% in trading after the company announced the results of the 3rd quarter, which ended on September 30. General Motors reported earnings per share increase of 65% to $ 2.83, which was higher than analysts expected $ 1.38. The amount […]

  • Peloton’s revenue exceeds Wall Street estimates for the fifth consecutive quarter
    News

    Peloton’s revenue exceeds Wall Street estimates for the fifth consecutive quarter

    Shares of Peloton, which rose nearly 346% since the beginning of the year, rose 2% during trading on Friday after the company published the results of the first quarter of fiscal 2021, which ended September 30. Peloton, which went public a little over a year ago, reported earnings per share for the second quarter in […]

  • Volkswagen buys American truck manufacturer for $ 3.7 billion
    News

    Volkswagen buys American truck manufacturer for $ 3.7 billion

    Traton Group, Volkswagen’s subsidiary for truck production, announced the purchase of its American competitor, Navistar International. Traton, which already owns about 16.7% of Navistar, is buying 83.3% of the company’s shares for the remaining $ 3.7 billion. Thus, the total value of the American company is estimated at $ 4.4 billion. Traton will pay Navistar […]

  • Starbucks demonstrates rapid sales recovery
    News

    Starbucks demonstrates rapid sales recovery

    Shares of Starbucks recovered from losses of February and March due to the pandemic and rose by 19.7% over the past 6 months. But shares fell again after the publication of the quarterly report, which ended September 30. Starbucks revenue and profit for the 4th quarter of fiscal 2020 showed a strong jump in growth […]

  • AMD will merge with rival Xilinx by exchanging shares
    News

    AMD will merge with rival Xilinx by exchanging shares

    American chipmaker Advanced Micro Devices Inc (AMD) is buying rival Xilinx Inc for $ 35 billion under a deal that it will be paid for in full by AMD shares. According to a press release from AMD, the operation will create a company worth about $ 135 billion. “The acquisition of Xilinx will allow AMD […]

Read also

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

Ukraine will pay almost 150 billion debt for the quarter

In the first quarter of 2021, Ukraine will pay the debt of 146.1 billion hryvnias, which is 7.25 billion more than the previous forecast. The data on the website of the Ministry of Finance testify to this. At the same time, peak periods of public debt payments are expected in the second and third quarters. […]

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

There are no threats of visa-free travel with the EU, – Kuleba

Currently, there are no threats to Ukraine’s visa-free travel with the European Union. Required joint efforts of all political forces in Ukraine to continue the movement towards the EU. This was stated by the Minister of Foreign Affairs of Ukraine Dmytro Kuleba on the talk show “Freedom of Speech” on ICTV. According to him, there […]

Next
Ford reported smaller-than-expected quarterly losses, but restructuring is still ongoing
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 […]

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

France’s largest bank bought a stake in the Ukrainian gas company

The financial conglomerate BNP Paribas (headquartered in Paris) acquired indirectly 11.42% of the British JKX Oil&Gas, which owns the Poltava Petroleum Company. This is stated in the message  of the JKX Oil&Gas reported on the London Stock Exchange. The owner of the package of the JKX at a rate of 11,42% became the British company […]

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

AMD will buy the chip maker Xilinx

Chip maker, Advanced Micro Devices, is in talks to buy a rival chip maker – the American company Xilinx, reported The Wall Street Journal. The deal might be exceeding to $ 30 billion and could be announced for the next week. The merger will become one of the largest transactions in the industry this year, […]

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

S&P 500 and Nasdaq have updated records on a background due to hopes for treatment with COVID-19

The US stock market came out in the plus on Monday, сontinuing to rise in the previous two sessions, while the S & P 500 and Nasdaq updated a high record due to the investor`s optimism about the prospects of treatment of coronavirus infection COVID-19. The news that the US Food and Drug Administration (FDA) […]

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

How has the legislation of Ukraine changed during the year?

For the year 2016, much has changed in Ukraine’s legal system as well. By the representatives of the Ukrainian government was done an extensive work in the field of reform of the current legislation. December, 30 is the perfect time to take stock of this work. We decided to focus on the innovations that are […]

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

State of Amazon head Jeff Bezos has reached $ 200 billion

The position of the richest man in the world, Amazon CEO Jeff Bezos reached $ 199.7 billion, which is a record for a businessman. This was reported on Wednesday by Forbes magazine. The publication noted that during the trading of Amazon shares on Tuesday, the state of Bezos even exceeded the mark of $ 200 […]

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

The IMF has forecast the growth of the Ukrainian economy

In 2021, the Ukrainian economy will grow by 4%. This is stated in the updated IMF forecast. At the same time, next year growth will slow to 3.4%. Inflation in Ukraine is expected to increase to 7.9% in 2021 after declining to 2.7% in 2020, and to 6.8% in 2022. The current account surplus of […]

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

In Ukraine, car production fell by 40%

In Ukraine, for seven months of this year, vehicle production collapsed by 40% compared to the same period in 2019 – up 2122 units. This is stated in the message of the association Ukravtoprom. Bus production in Ukraine in January-July 2020 decreased by 31% compared to the same period in 2019 and amounted to 311 […]

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

Land Market: Risks and Prospects

On December 12, 2019, Kyiv City State Administration held an International Roundtable on Land Legal Relations organized by the Union of Real Estate Specialists of Ukraine SFNU and the Ukrainian Chapter of FIABCI International Real Estate Federation. Representatives of the Ukrainian real estate market and agrarian sector participated in the event. A teleconference was held […]

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

The media named a way to circumvent EU restrictions for NS-2

Gazprom can circumvent European restrictions on the Nord Stream-2 gas pipeline through a contract for gas supplies to the German market, which it has concluded with the Austrian company OMV. As we know, the EU gas directive requires half of the capacity of gas pipelines to be provided to independent suppliers. Except for routes for […]

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

The EU is asking Facebook to suspend the transfer of its users’ data to the United States

The European regulator on personal data protection has sent a preliminary order to American Facebook to stop the transfer of data of its users in the United States, according to the Wall Street Journal, citing sources familiar with the situation. “The EU’s privacy regulator has sent a preliminary order to Facebook for suspending the transfer […]

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

S&P forecasts devaluation of hryvnia

International rating agency S&P Global Ratings forecasts the hryvnia exchange rate at 29.5 per dollar by the end of 2021. This is stated in the review of the agency. At the same time, in 2022 the hryvnia exchange rate is projected as 30 per dollar, in 2023 – 30.5 hryvnias per dollar. and at the […]

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

Cosco Pasific is the only contender to purchase the Piraeus Port in Greece

Cosco is the world’s leading container carrier that is the only candidate  to bit for the purchase of 51% stake in the state port of Piraeus in Greece. The  sale will help to generate hundreds million of euros for Greece, which is experiencing significant financial difficulties ,  therefore is engaged in the sale of  State […]

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

Fintech’s subsidiary Alibaba has aimed for the largest IPO in history

A subsidiary of Alibaba Group – Ant Group – plans to attract $ 35 billion in the course on the Shanghai and the Hong Kong exchange. This was reported by Bloomberg. The IPO could be the largest in history, the agency emphasizes. The previous record holder, Saudi oil company Aramco, raised $ 29.4 billion. The […]

Next
WP2Social Auto Publish Powered By : XYZScripts.com