Sliding vehicle sales and the ongoing in investment in mobility enterprises are going to cut Ford Motor Co. profits by 50% and reduce full-year profits by nearly $1.5 billion.
The assertions were made by Ford executives during investor conference calls and in filings with the Securities and Exchange Commission.
The company noted it expects first quarter 2017 earnings per share between 30 cents and 35 cents, which equates to just under $1.9 billion and lower than the first quarter of 2016. Last year, the automaker earned 68 cents per share for the first quarter and had a record quarterly pre-tax profit of $3.8 billion: One of its best quarters ever. (more…)