Ford reported first-quarter earnings on Tuesday. They were a slight miss, at $ 0.23 per share. Revenue for the quarter was $ 33.9 billion
Analysts expected the automaker to earn $ 0.25 per share.
“The first quarter was a good start to a year in which our results will grow progressively stronger as the new products we have been launching start to pay off,” CEO Mark Fields said in a statement.
“We are re-confirming that 2015 will be a breakthrough year for Ford as we continue accelerating our One Ford plan, delivering product excellence and driving innovation in every part of the business in a way that benefits all of our stakeholders.”
The North American market and Ford’s credit operations were highlights from the quarter. The company pointed to operating margins for the full year of 8.5-9.5%.
“We believe the first quarter will be the low point for Ford’s earnings in 2015,” said Sterne Agee analyst Michael Ward. “The launch of the new F150 [pickup truck] has been on or ahead of schedule and industry demand trends as well as pricing have been better-than-expected which should provide an added boost as the plants reach full production rates.”
The lauch of the revamped F-150 has been a source of ongoing concern for investors. It’s the best-selling vehicle in the US, but Ford has committed to building it with more lightweight aluminum to be able to meet future government mileage standards.
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