Ford Motor

Ford’s (F) Q1 beat was driven by solid volume growth in the company’s Pro segment as well as lower losses in Model E, BofA Securities said in a note to clients on Thursday. However, Blue “partially worked as an offset due to the timing of 60K F-150s held in inventory,” the investment firm said. The carmaker reported Q1 adjusted earnings Wednesday of $0.49 per diluted share, down from $0.63 a year earlier. Analysts surveyed by Capital IQ expected $0.44. Revenue for the quarter was $42.78 billion, up from $41.47 billion a year earlier. Analysts expected $41.47 billion. The company’s management “painted a positive picture for Ford as strength in its core truck market continues. Demand for Pro remains high and, in the priority pecking order, it sits atop when resources are allocated,” BofA said. “New Pro products are expected to launch in 2H in Europe, which may impact volumes in […]

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our 12-month target by $1 to $14, based on a 2025 P/E of 7.6x, a justified discount to historic averages. We increase our 2024 EPS estimate to $1.85 from $1.80, but leave 2025 at $1.85. Ford posted Q1 U.S. auto sales of 508,083 units (+6.8% Y/Y), ahead of expectations and outperforming average U.S. sales growth of 5.5%. Ford’s results indicated a growing consumer appetite for hybrids, where sales jumped 42% Y/Y in Q1, driven by the Maverick hybrid (+77%). Ford’s U.S. EV sales growth was also robust, rising 86% Y/Y to 20,223 units. Ford’s U.S. sales growth was impressive relative to archrival GM, where volumes were -1.5% Y/Y in Q1. The bad news for Ford and the Detroit Three is that near-term comps will be

Ford Motor (NYSE:F) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/13/2024 26.83% Morgan Stanley $15 → $16 Maintains Overweight 02/08/2024 18.91% Barclays $14 → $15 Maintains Overweight 02/07/2024 26.83% Citigroup $15 → $16 Maintains Buy 02/07/2024 -4.88% RBC Capital → $12 Reiterates Sector Perform → Sector Perform 01/24/2024 -20.73% Redburn Atlantic → $10 Initiates Coverage On → Sell 01/17/2024 -4.88% UBS → $12 Downgrades Buy → Neutral 12/04/2023 -10.42% HSBC → $11.3 Initiates Coverage On → Hold 11/01/2023 10.98% Barclays → $14 Upgrades Equal-Weight → Overweight 10/31/2023 18.91% Morgan Stanley $16 → $15 Maintains Overweight 10/06/2023 26.83% Morgan Stanley $16 → $16 Reiterates Overweight → Overweight 09/13/2023 18.91% UBS → $15 Initiates Coverage On → Buy 08/30/2023 -4.88% RBC Capital → $12 Reiterates Sector Perform → Sector Perform 08/01/2023 26.83% Morgan Stanley $16 → $16 Reiterates Overweight → Overweight 08/01/2023 3.05%

Ford Motor (F) logged higher US vehicle sales for January on an annual basis despite a sharp drop in electric vehicle sales. The automaker said Friday it sold 152,617 vehicles last month, up from 146,356 a year earlier. EV sales tumbled nearly 11% to 4,674 units. Last month, Ford said it was lowering the production of its F-150 Lightning electric pickups to match customer demand. The company also had said it expected continued growth in global EV sales this year, though less than projected. Hybrid vehicle sales in the US surged 43% year over year to 11,157 last month, while internal combustion sales advanced 2.6% to 136,786. Sport-utility vehicle sales increased 8.5% to 68,120, and truck sales rose 1.5% to 80,726. F-150 Lightning sales ticked 0.3% lower to 2,258. Car sales dropped 6% to 3,771 units, the company said Friday. Ford outlined plans in January to create roughly 900 new

Ford Motor (F) said Friday it is lowering the production of its F-150 Lightning electric pickups to match customer demand while increasing the output of certain other vehicles. The decision to cut F-150 Lightning output comes as the automaker seeks to achieve “the optimal balance” of production, profitability, and sales growth, it said in a statement. The company sees continued growth in global electric vehicle sales this year, though less than projected. Earlier this month, Ford logged an annual gain in fourth-quarter US vehicle sales, pushing its full-year sales to the best level since 2020. Fourth-quarter F-150 Lightning sales surged 74% year over year, while 2023 sales jumped 55%. On Friday, the company forecast “further growth” for the F-150 Lightning EV this year. “Customers love the F-150 Lightning,” Ford Chief Executive Jim Farley said. “We see a bright future for electric vehicles for specific consumers, especially with our upcoming digitally

UBS Global Research analyst Joseph Spak downgraded Ford Motor Company (NYSE:F) to Neutral from Buy, maintaining the price target at $12. The analyst sees limited upside to estimates for Ford over 2024 and 2025 than prior, highlighting that there is potential for more earnings upside at U.S. peer General Motors Company (NYSE:GM). Ford’s Gen 2 EVs (clean-sheet approach) won’t launch until 2025/26, the analyst notes. However, GM has a head start on its clean-sheet Ultium platform. While GM’s Ultium has had challenges, there have also been learnings, the analyst adds. Given that many EV launches across the industry have issues, it’s not certain that F’s Gen 2 product won’t face the fate others have experienced, the analyst cautions. Although the analyst applauded CEO Farley’s vision and direction for the future of Ford, per Spak, it could take a number of years for the benefits of those plans to be realized. Ford indicated that, vs. their

-1.65%-3.17%盘后 CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lower our 12-month price target by $1 to $12, based on ’25 P/E of 6.3x and a justified discount to F’s five-year mean forward P/E of 8.2x. We lower our adjusted EPS estimates to $2.00 from $2.10 for ’23, to $1.80 from $2.05 for ’24, and introduce ’25 at $1.90. Ford posts Q3 adjusted EPS of $0.39 vs. $0.30 (+30%), short of the $0.46 consensus. Automotive revenue rose 11% to $41.2B ($1.3B below consensus) and adjusted EBIT margin expanded 40 bps to 5.0%. Like GM earlier this week, Ford withdrew prior 2023 guidance pending the ratification of its tentative labor agreement with the UAW that was announced last night. While we think the new labor deal will be ratified, we view the concessions the company

Ford Motor (NYSE:F) reported Q2 adjusted earnings  of $0.72 per diluted share, up from $0.68 a year earlier. Analysts polled by Capital IQ expected $0.54. Revenue for the quarter ended June 30 was $44.95 billion, up from $40.19 billion a year earlier. Analysts expected $41.32 billion.