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Ford jumps 8% as strong demand for its popular trucks in North America boosts first-quarter earnings

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Ford's Q1 earnings saw a beat by a huge margin, reporting 44 cents per share, vs 27 cents estimated. The quarterly numbers come amid Ford’s $11 billion restructuring plan, with an aim to slash costs by $14 billion over the next 5 years.

Ford delivered stronger-than-expected first-quarter earnings as demand for its popular pickups and SUVs in North America helped boost losses in China and South America.Here's how the company did compared with what Wall Street expected, based on average estimates compiled by Refinitiv:

On an unadjusted basis, Ford's profit slid 34% from the year earlier. It earned $1.15 billion, or 29 cents a share, down from $1.74 billion, or 43 cents a share, during the same quarter last year. The company, which release earnings after the markets closed Thursday, credited its better-than-expected performance in North America to strong truck and sport utility vehicle sales there, particularly its F-Series and Ranger pickups.

The Detroit automaker said its U.S. North American operating profits were $2.2 billion. Ford only reported operating losses in South America and China. They lost $158 million and $128 million, respectively. Ford also reported operating profits in the Asia Pacific, Middle East and Africa, and Europe.

 

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So many people bought ford at 14.

All those evil tax cuts taking effect 📈

Good news that has NOTHING to do with Donald Trump and EVERYTHING to do with Barack Obama

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