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Ford Motor Co. CEO Jim Farley speaks during a press conference at the Rouge Complex in Dearborn, Michigan on September 17, 2020.
Rebecca Cook | Reuters
DETROIT – Ford Motor is expected to report a small second-quarter loss on Wednesday as semiconductor chip shortages lead to significant production cuts and low vehicle inventories.
Here’s what Wall Street expects, based on average analyst estimates compiled by Refinitiv.
- Adjusted results: a loss of 3 cents per share
- Automotive turnover: $ 24.25 billion
Ford last month said its adjusted second-quarter pre-tax profit would exceed expectations and be “significantly better than a year earlier”, while its net profit would be “significantly lower” than the same period l last year.
The company reported net income of $ 1.1 billion and an adjusted pre-tax loss of $ 1.9 billion in the second quarter of 2020.
In April, Ford forecast its adjusted pre-tax profit for the year to be between $ 5.5 billion and $ 6.5 billion, including a negative effect of about $ 2.5 billion due to the shortage of semi -conductors. This impact was the high end of a previously guided loss due to the problem.
Outside of Ford’s earnings and any changes to the forecast, Wall Street analysts will be looking for updates on CEO Jim Farley’s Ford + turnaround plan, semiconductor chip shortage and new product launches.
Ford shares have more than doubled since Jim Farley took over as CEO in October, including a jump of more than 50% so far this year.
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