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US Motor Company "Ford Motor" Co. revised its estimate of earnings this year due to lower sales, China's tariffs and the difficulties it has encountered in the European market and has warned that she could record costs of up to $ 11 billion over the next five years as a result of the company's restructuring, reports Reuters, according to Agerpres.
US tariffs of 25% for steel imports and 10% for aluminum imports came into force on March 23 and, since June 1, are also applied to producers of aluminum. l & # 39; EU. These rates could cost this year "Ford" about $ 1.6 billion in North America, said Bob Shanks, chief financial officer of the company.
"It is clear that there will be a major and profound restructuring that will really solve the weaker business sectors," Shanks said, adding that Ford would improve the performance of these sectors or the markets. sell.
In the second quarter of 2018, Ford's net profit fell nearly 50% below analysts' estimates due to a fire at a component supplier that caused the decline in the production of vans popular, while the decline in sales tariffs have affected China's results. In the first five months of 2018, Ford sales in the world's largest automotive market dropped 22 percent, and in April-June 2018, Ford's operations in China recorded losses of $ 483 million. .
Ford also announced that it was working to reduce the costs of its subsidiary in Europe, focusing on profitable models and significant restructuring operations.
This year, Ford would record adjusted earnings of $ 1.30 – $ 1.50 / share, compared to previous forecasts of $ 1.45 – $ 1.70 / share, while analysts said they would expect to $ 1 52
In the second quarter of 2018, Ford's net profit dropped to $ 1.07 billion, or $ 0.27 per share, from $ 2.05 billion or $ 0.51 per share. the same period in 2017 Analysts were expecting $ 0.31 per share.
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