The 10-second takeaway
For the quarter ended March 31 (Q1), Ford beat slightly on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded. Non-GAAP earnings per share increased. GAAP earnings per share expanded.
Gross margins dropped, operating margins dropped, net margins increased.
Ford logged revenue of $33.90 billion. The 12 analysts polled by S&P Capital IQ expected to see revenue of $33.38 billion on the same basis. GAAP reported sales were 10% higher than the prior-year quarter's $32.45 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.41. The 18 earnings estimates compiled by S&P Capital IQ predicted $0.37 per share. Non-GAAP EPS of $0.41 for Q1 were 5.1% higher than the prior-year quarter's $0.39 per share. GAAP EPS of $0.40 for Q1 were 14% higher than the prior-year quarter's $0.35 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 6.0%, 900 basis points worse than the prior-year quarter. Operating margin was 6.0%, 10 basis points worse than the prior-year quarter. Net margin was 4.5%, 20 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $34.86 billion. On the bottom line, the average EPS estimate is $0.36.
Next year's average estimate for revenue is $136.24 billion. The average EPS estimate is $1.42.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 9,740 members out of 12,132 rating the stock outperform, and 2,392 members rating it underperform. Among 1,937 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 1,574 give Ford a green thumbs-up, and 363 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Ford is outperform, with an average price target of $15.43.
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