Ford Motor Co. rose 2.7% before the opening bell, Q1 results exceeded expectations, and it adjusted its strategy to produce more SUVs and pickup trucks.

Gelonghui, April 25 | Ford Motor (F.US) U.S. stocks rose 2.7% before the market opened, to US$13.3.

Ford\’s first-quarter revenue was $42.8 billion, exceeding analysts\’ expectations of $40 billion; adjusted earnings per share were 49 cents, higher than expectations of 42 cents.

Ford reiterated its forecast for earnings before interest and taxes this year of $10 billion to $12 billion, saying it was trending towards the high end of that range, and raised its free cash flow forecast to $6.5 billion to $7.5 billion.

In addition, Ford will cut costs by $2 billion this year \”as planned.\”

As electric vehicle sales growth stalls, Ford Motor Co. CEO Jim Farley cancels aggressive electrification plans and instead builds more SUVs and pickup trucks.

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