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Ford Motor on Wednesday evening delivered higher than expected profits in the first quarter, driven by strength in its commercial business. Positive updates to its full-year outlook helped send shares rallying by roughly 2.5% in after-hours trading. Automotive revenue increased 2% year over year, to $38.89 billion, missing analysts’ forecasts of $40.1 billion, according to estimates compiled by LSEG. Adjusted earnings-per-share fell 22% to 49 cents, beating EPS estimates of 42 cents. Earnings before interest and taxes declined 19% from last year to $2.76 billion, but the EBIT was better than the $2.47 billion analysts forecasted. Ford Why we own it : We’re in Ford due to management’s…
Source cnbc.com
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