Ford puts 2018 adjusted profit outlook below Street view
DEARBORN, Mich. (AP) — Ford is calling for 2018 adjusted earnings of $1.30 per share, slightly below Wall Street’s view, because of challenges including higher commodity and warranty costs and a business decline in China.
Analysts predict earnings of $1.33 per share, according to FactSet.
Looking ahead, Ford Motor Co. Chief Financial Officer Bob Shanks said in a statement that the automobile maker sees the potential for year-over-year improvement in revenue in 2019.
Last week Ford announced it was cutting jobs in Europe as it reshapes its business to focus on more profitable commercial trucks and SUVs while shifting production to electric cars over the longer term.
Shares of the Dearborn, Michigan-based company fell 13 cents to $8.71 before the market open on Wednesday.