Ford Shares First-Quarter Earnings and Revenue, Expects Profit of $10 Billion to $12 Billion

After General Motors (GM) and Tesla (TSLA) recently released their quarterly results, Ford is following suit by releasing its first-quarter earnings and revenue after the markets close on Wednesday. Wall Street analysts predict that Ford’s earnings per share will fall 32% to 43 cents in Q1, with revenue expected to grow more than 3% to $42.93 billion.

Ford management reaffirmed their guidance for an annual core profit of $10 billion to $12 billion on March 26. The company emphasized the importance of hybrids as they shift investments from EVs to hybrid vehicles. Investors and analysts are eager to see the losses from Ford’s EV efforts in Q1.

In Q1, U.S. sales grew by 6.8%, with overall EV sales, including hybrids, jumping by 82%. This growth was driven in part by the popularity of the Mustang Mach-E electric SUV, which has been well-received by consumers and critics alike.

Ford’s stock was up by 0.3% to 12.97 on Wednesday, following a 0.5% increase on Tuesday. The company’s stock has gained 6.7% for the week, but it is still below the official 13.95 buy point from a cup-with-handle base, according to MarketSurge. Despite this, investors remain optimistic about Ford’s future prospects and believe that the company is well-positioned for long-term success as it continues to pivot towards hybrid and electric vehicles