Ford reported adjusted Q2 earnings of $0.42 per share, exceeding estimates, and lifted its full-year EBIT guidance to $10-$11 billion.
Ford Motor Company (F) surpassed Wall Street expectations for second-quarter profit, reporting adjusted earnings of $0.42 per share, above the $0.30 estimate. Revenue reached $48.3 billion, slightly higher than the $45.86 billion forecast, though down 4% year-over-year. Adjusted EBIT fell 26% to $1.72 billion but still exceeded projections of $1.31 billion.
The company raised its full-year adjusted EBIT guidance to $10 billion to $11 billion, up from $8.5 billion to $10.5 billion. Adjusted free cash flow outlook was also increased to $6 billion to $7 billion, while capital expenditure guidance remained unchanged at $9.5 billion to $10.5 billion. Ford Blue and Ford Pro segments outperformed expectations, while the electric vehicle unit, Ford Model e, narrowed its EBIT loss.
Shares rose more than 5% in premarket trading following the announcement.