Ford Motor Beats Expectations but Takes a Step Back Anyway
Ford Motor (NYS: F) reported earnings on May 4. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Ford Motor missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted slightly and GAAP earnings per share shrank significantly.
Margins dropped across the board.
Ford Motor recorded revenue of $30.50 billion. The 11 analysts polled by S&P Capital IQ expected revenue of $31.51 billion on the same basis. GAAP reported sales were 2.0% lower than the prior-year quarter's $33.11 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.39. The 17 earnings estimates compiled by S&P Capital IQ predicted $0.35 per share. GAAP EPS of $0.35 for Q1 were 43% lower than the prior-year quarter's $0.61 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 15.0%, 180 basis points worse than the prior-year quarter. Operating margin was 6.1%, 240 basis points worse than the prior-year quarter. Net margin was 4.3%, 340 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $33.05 billion. On the bottom line, the average EPS estimate is $0.35.
Next year's average estimate for revenue is $131.12 billion. The average EPS estimate is $1.47.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 9,385 members out of 11,773 rating the stock outperform, and 2,388 members rating it underperform. Among 1,815 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 1,417 give Ford Motor a green thumbs-up, and 398 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Ford Motor is outperform, with an average price target of $16.06.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio.The Motley Fool owns shares of Ford Motor. Motley Fool newsletter services have recommended buying shares of Ford Motor. Motley Fool newsletter services have recommended creating a synthetic long position in Ford Motor. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.