Ford Motor Company Earnings: After Four Straight Increases, Revenue Drops as Net Income Falls

S&P 500 (NYSE:SPY) component Ford Motor Company (NYSE:F) reported its results for the first quarter. Ford is an automaker that sells its cars and trucks throughout the world.

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Ford Motor Company Earnings Cheat Sheet for the First Quarter

Results: Net income for the domestic automobiles fell to $1.4 billion (35 cents per share) vs. $2.55 billion (61 cents per share) a year earlier. This is a decline of 45.1% from the year-earlier quarter.

Revenue: Fell 2.2% to $32.4 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Ford Motor Company reported adjusted net income of 39 cents per share. By that measure, the company beat the mean estimate of 35 cents per share. It beat the average revenue estimate of $31.53 billion.

Quoting Management: “Our team delivered a solid performance during the first quarter, with particularly strong results in North America, despite a challenging global external environment,” said Alan Mulally, Ford president and CEO. “We remain focused on investing for future growth and developing outstanding products with segment-leading quality, fuel efficiency, safety, smart design and value.”

Key Stats:

A year-over-year revenue decrease last quarter snaps a streak of four consecutive quarters of revenue increases. The best quarter in that span was the third quarter of the last fiscal year, which saw revenue rise 10.6%.

The company topped expectations last quarter after falling short of forecasts in the fourth quarter of the last fiscal year with net income of 20 cents versus a mean estimate of net income of 27 cents per share.

Net income has increased 1406.6% year-over-year on average across the last five quarters. The biggest gain came in the fourth of the last fiscal year, when income climbed 7065.8% from the year-earlier quarter.

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the second quarter has moved down from 43 cents a share to 40 cents over the last ninety days. For the fiscal year, the average estimate has moved up from $1.48 a share to $1.52 over the last sixty days.

Competitors to Watch: General Motors Company, Toyota Motor Corp., Daimler AG, HONDA MOTOR CO., LTD., Nissan Motor Co., Ltd., Tesla Motors Inc, Volkswagen AG, Navistar Intl. Corp., PSA Peugeot Citroen S.A., and Spartan Motors, Inc.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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