>>> Ford Motor misses by $0.03, misses on revs; reaffirms FY15 profit

Ford Motor misses by $0.03, misses on revs; reaffirms FY15 profit

Reports Q1 (Mar) earnings of $0.23 per share, $0.03 worse than the Capital IQ Consensus Estimate of $0.26; revenues fell 6% year/year to $31.8 bln vs the $33.9 bln consensus.
  • Automotive operating-related cash flow positive; cash and liquidity in line with targeted levels
  • Wholesale volume and Company revenue down due to major product launches and the impact of the strong U.S. dollar on international revenue
  • North America, Asia Pacific and Middle East & Africa profitable
  • Three of 15 global new product launches complete; remainder on track.
Company reconfirms 2015 pre-tax profit guidance of $8.5B to $9.5B; improves North America operating margin guidance to 8.5-9.5 percent and revises South America profit guidance down in light of external environment.