[ad_1]
Ford's second-largest automaker reduced its annual targets following a second quarter drop in earnings, warning of billions of dollars in corporate restructuring costs. In the three months to end of June, the surplus fell by almost half to $ 1.1 billion (939.69 million euros), as Ford announced Wednesday after closing of the US market.
As a reason for the sharp drop The company cited platform truck production problems in North America due to a supplier fire and persistent difficulties in the business in China, which are suffering a decline in sales and a tariff dispute with the United States
$ 9 billion. After the weak quarter, the annual profit target for fiscal 2018 was reduced to $ 1.30 for $ 1.50 per share. Previously, the forecast had been valued at $ 1.45 to $ 1.70 per share
Ford also warned that the cost of corporate restructuring could consume up to $ 11 billion over the past three to next five years.
– The industry leader, General Motors, has felt the consequences of the trade dispute triggered by President Donald Trump. Due to rising commodity prices and weak currencies in South America, the Group also lowered its annual profit forecast.
GM forecasts a profit per share of $ 6.30 to $ 6.60 for the year 2018. The second quarter ended the group worse than a year ago, but not as weak as expected by badysts. Net profit was $ 2.39 billion, up from $ 2.43 billion a year ago. (DPA / apa / red)
Source link
