Ford reported first quarter results after the bell that beat expectations on Wednesday, with its changing product game plan front and center along with its focus on gas and hybrid offerings. Ford also boosted some guidance metrics, but not its full-year profit outlook.
Ford shares were pulling higher in after hours trading, up over 3%. Ford's results come after GM reported strong Q1 results and boosted its yearly profit outlook. During the first quarter, Ford pushed deeper into its gas and hybrid vehicles, with EV spending and production taking a back seat. Earlier this month, Ford said that it is pushing back EV production at its massive BlueOval City EV campus in Tennessee to 2026 from its initial 2025 start date. Ford also revealed it is “retiming” the launch of upcoming EVs at its plant in Oakville, Ontario, where it plans to build next-generation three-row EVs, and most likely a full-size SUV.