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Ford's EV losses climb but overall profits rise | CNN Business

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Losses are going up on Ford’s electric vehicle business, but profit from its traditional internal combustion engine vehicles allowed it to beat Wall Street expectations

The company earned 72 cents a share in the second quarter on an adjusted basis, up from 68 cents a share and better than the 55 cents a share forecast by analysts surveyed by Refinitiv. Automotive revenue rose 12% to $42.4 billion, $2 billion more than forecasts. The company was able to beat the estimates despite the fact that its losses before interest and taxes grew to $1.

History in recent decade suggests that the UAW will not strike all three companies at the same time. It could do what it has done in the past and pick one company as the “target” of it negotiations, and perhaps go on strike against it if there is no deal. Ford has not been struck by the UAW since 1976, far longer than the other two automakers have gone without a strike. And Farley tried to assure investors that a deal can be reached this time without a work stoppage.

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