Ford’s adjusted pre-tax profit for the second quarter exceeded expectations, and its annual performance is expected to exceed expectations as well

Ford's Q2 adjusted pre-tax profit surpassed expectations, and its annual performance is also expected to exceed expectations

【Phoneauto News】Recently, phoneauto noticed that according to official data, Ford, the American automobile company, achieved a significant increase in adjusted pre-tax profit in the second quarter of 2023. It is reported that Ford’s adjusted pre-tax profit in the second quarter was $3.8 billion, far exceeding analysts’ expectations of $3.15 billion. Meanwhile, the adjusted earnings per share were $0.72, $0.18 higher than analysts’ expected $0.54. The improvement in Ford’s financial condition is mainly attributed to the improvement in its product portfolio and cost control. With the recovery of the automotive market and Ford’s continuous investment in the field of electric vehicles, the company’s profit margin has been significantly improved.

In addition, Ford also raised its full-year adjusted pre-tax profit expectation. The company expects its full-year adjusted pre-tax profit to be between $11 billion and $12 billion, an increase compared to analysts’ expected $10.66 billion. This demonstrates Ford’s confidence and determination in the company’s business prospects. However, Ford’s second-quarter revenue from the Ford Model E performed poorly, reaching only $1.8 billion, lower than analysts’ expected $2.07 billion. This indicates that Ford faces challenges in the sales of this model and needs to further improve its sales performance.

Overall, Ford achieved a significant increase in adjusted pre-tax profit in the second quarter and raised its full-year adjusted pre-tax profit expectation. Although the company still faces challenges in certain aspects, overall, Ford is continuously improving its financial condition and enhancing its business competitiveness. This financial report provides strong support and guarantee for its future development. The company will continue to invest more resources and efforts to achieve sustainable development and expand its business. At the same time, Ford will also continue to focus on cost control and profitability to ensure the stability and sustainability of its business.

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