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.
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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.