Investing.com - Ford Motor (NYSE:F) on Tuesday reported first-quarter earnings that missed analysts' forecasts and revenue that fell short of expectations as the coronavirus pandemic hurt demand.
The automaker warned of second-quarter adjusted earnings before interest (EBIT) to be a loss of more than $5 billion year on year amid a significant decline in industry volumes in every region in the wake of coronavirus-led disruptions to output.
Ford Motor shares lost 0.74% in after-hours trade following the report.
Ford Motor announced earnings per share of $-0.23 on revenue of $34.30 billion. Analysts polled by Investing.com anticipated EPS of $-0.04 on revenue of $35.71 billion. That with compared with EPS of $0.44 on revenue of $40.34 billion in the same period a year before. Ford Motor had reported EPS of $0.12 on revenue of $39.7B in the previous quarter.
Analysts are expecting EPS of $-0.67 and revenue of $26.68 billion in the upcoming quarter.
Ford Motor shares are down 42% from the beginning of the year, still down 48.96% from its 52 week high of $10.56 set on July 15, 2019. They are under-performing the S&P Global (NYSE:SPGI) 100 which is down 9.91% year to date.
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