Ford first-quarter profit falls, but beats Wall St estimates
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FILE PHOTO: The Ford logo is seen at the North American International Auto Show in Detroit, Michigan, U.S., January 15, 2019. REUTERS/Brendan McDermid/File Photo
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Brendan McDermid(Reuters)
DETROIT (Reuters) – Ford Motor Co on Thursday posted lower profit for the first quarter but beat analyst estimates as pickup truck sales remained strong in its core U.S. market.
The No. 2 U.S. automaker posted a quarterly net profit of $1.15 billion (892.03 million pounds), or 29 cents per share, down 34 percent from $1.74 billion, or 43 cents per share, a year earlier.
Excluding one-time items, Ford earned 44 cents per share, above analysts’ average estimate of 27 cents, according to IBES data from Refinitiv.
(Reporting by Nick Carey; Editing by Tom Brown)
