Car

Ford’s Q2 net profit surged 19%, increased dividends, shares jumped 6% after hours

Ford's Q2 net profit surged 19%, increased dividends, shares jumped 6% after hours
Ford's Q2 net profit surged 19%, increased dividends, shares jumped 6% after hours
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American auto giant Ford (Ford) will release its latest earnings report after the U.S. stock market on July 27. The performance is far better than Wall Street’s expectations, maintaining its full-year financial forecast unchanged. Shares jumped more than 6%.

According to Ford’s financial report, in the second quarter of 2022, net profit increased by 19% to $667 million, including a loss of $2.4 billion recognized by Rivian, the reinvestment business, compared with a net profit of $561 million in the same period in 2021.

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Automotive revenue of US$37.91 billion, a 57% increase from US$24.13 billion in the same period in 2021, and much better than the Refinitiv consensus estimate of US$34.32 billion; adjusted EPS of US$0.68 easily surpassed the 0.45 expected in a Refinitiv survey Dollar.

Ford's Q2 net profit surged 19%, increased dividends, shares jumped 6% after hours

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Adjusted EBIT jumped to US$3.7 billion from US$1.1 billion in the same period of 2021, mainly due to the easing of supply chain bottlenecks and strong sales of high-margin vehicle models, which improved the operating profit margin from US$1.1 billion in the same period of 2021. 3.9% to 9.3%.

Ford announced an increase in rewards to shareholders, raising its quarterly dividend to $0.15 per share, returning to pre-COVID-19 levels.

Ford Chief Financial Officer John Lawler said that despite the adverse effects of inflation, he will maintain its 2022 financial forecast unchanged. 25%, adjusted free cash flow of $5.5 billion to $6.5 billion.

According to Yahoo Finance’s quotation, Ford’s shares rose 5.18% to close at $13.19 in normal trading on the 27th, and rose 6.44% to $14.04 after the market. As of the close on the 27th this year, Ford’s stock price has fallen 36.49%, which is worse than the 15.58% decline in the broader S&P 500 index over the same period.

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