Ford Motor Co (F) has released its Q1 results, showing revenues and earnings both beating estimates.
Ford Beats Q1 Estimates
Revenue was reported at $42.78bn, which exceeded the $40.04bn that had been anticipated. In terms of earnings per share, $0.49 was also better than the estimated figure of $0.42. Net income of $1.3bn has been reported, and adjusted EBIT of $2.8bn.
The Ford Pro commercial fleets division provided one of the most impressive returns, with revenue increasing 36% from last year’s numbers. A high level of demand for the company’s Super Duty trucks and Transit vans is said to be among the key reasons for these improved results.
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The hybrid Ford Blue vehicle selection saw sales rise, putting the company on track for 40% growth this year. Ford has announced its Q2 regular dividend at 15 cents for each share.
Ford’s recent advertising campaign aimed to show how the firm now caters to every customer’s preference through its ‘Freedom of Choice’ slogan. With petrol, electric, and hybrid vehicles for different uses, Ford has profited from a segmented approach to its business areas.
Ford’s CEO and president Jim Farley said:
Customers want vehicles that they’re passionate about, choices in how they’re powered, quality that’s constantly getting better and great value.
He went on to say that Ford is providing all these things that other vehicle markets don’t, and in the process, it’s creating a company that’s going to be around for a long time.
