Ford Motor Company (NYSE:F) has announced its financial results for the first quarter of 2018, reporting an EPS of $0.63, which is higher than the average forecast of $0.42. Despite this, shares were trading more than 1% lower after the market closed.
The alleviation of supply-chain issues that enabled the firm to more effectively cater to the healthy demand for its SUVs and pickup trucks contributed to the company’s revenue increased by 20% year-over-year to $41.5 billion, which was higher than the consensus expectation of $39.25 billion.
Shipments are getting close to 1.1 million automobiles, which represents a 9% rise over the previous year.
The profitability of the quarter was boosted thanks to a favorable mix of products, greater net price, and increased volume, and it was spread out across a variety of geographical locations.
Both the Ford Blue and the Ford Pro business sectors were profitable in every location they operated in.
The business restated its performance goals for the full 2023-year, which were initially outlined in the beginning of February. Both adjusted EBIT and adjusted free cash flow are projected to be in the range of $9 to $11 billion, with adjusted free cash flow anticipated to be $6 billion.
The business has reiterated its forecasts for 2023 segment-level EBIT, which are about $7 billion for Ford Blue, approximately $3 billion in losses for Ford Model e, and $6 billion for Ford Pro.