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.
