Ford Motor Co. is slated to report second-quarter earnings after the bell on Thursday, and the Detroit automaker has a tough act to follow: both Tesla Inc. and General Motors Co. have reported quarterly earnings comfortably above investors’ estimates.
Moreover, GM GM raised its 2023 outlook for the second time this year, so a “beat and raise” bar “is quite high” for Ford F , Evercore ISI analysts said in a note Wednesday. Earnings: Analysts polled by FactSet expect Ford to report GAAP earnings of 50 cents a share in the second quarter, which would compare with 16 cents a share in the second quarter of 2022. Adjusted earnings are seen at 54 cents a share.
Share movement: The stock has underperformed the broader market slightly, up 17% so far this year versus an advance of about 19% for the S&P 500 index SPX .