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Ford Motor’s CFO expects first-quarter earnings per share to be lower year-on-year
The chief financial officer of Ford Motor Co. (NYSE:F) has said the global car giant’s first-quarter earnings per share is expected to be lower year-on-year due to higher costs, lower volumes, and unfavourable exchange rates.
Hosting a ‘Let’s Chat’ forum today, Bob Shanks, Ford’s executive vice president and CFO said earnings per share guidance for the first quarter of 2017 is in the range of US $0.30 to US$0.35.
He added: “This is lower than our earnings per share in the first quarter of 2016 due to: higher costs (including commodities, warranty, and investments in emerging opportunities); lower volume (primarily fleet); and unfavorable exchange.”
Shanks said he also expects Ford’s total company adjusted pretax profit to be about US$9bn in 2017, which is also lower than in 2016 driven by the group’s planned investments in emerging opportunities, but he sees profits improving in 2018.
The CFO added that he continues to expect Ford Credit’s pretax profit to be about $1.5bn in 2017 and to improve in 2018.
In early New York trading, Ford shares were 1.6% lower at US$11.57.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/175305/ford-motor-s-cfo-expects-first-quarter-earnings-per-share-to-be-lower-year-on-year-175305.html
