Ford Mustang on display at the NY Auto Show, April 6, 2023.
Scott Mlyn | CNBC
DETROIT — Ford Motor is reporting second-quarter earnings after the markets close Thursday.
The Detroit automaker is expected to report results that are solid but not as strong as the $1.91 in adjusted earnings per share that crosstown rival General Motors reported Tuesday.
Here’s what Wall Street expects from Ford, based on average analyst estimates compiled by Refinitiv:
- Adjusted earnings per share: 55 cents
- Automotive revenue: $40.38 billion
Those results would mark a year-over-year increase of 6.5% in automotive revenue but a nearly 20% decline in adjusted EPS. The company’s earnings during the second quarter of 2022 were assisted by high vehicle prices amid lower inventory levels.
The company reported net income of $667 million on total revenue of $40.19 billion during the second quarter of 2022.
There’s pressure on Ford after GM raised its yearly guidance Tuesday for the second time this year.
In May, Ford reiterated that it expects full-year adjusted earnings of between $9 billion and $11 billion and roughly $6 billion in adjusted free cash flow. Ford said it plans to have capital expenditures of between $8 billion and $9 billion in 2023.
Also in May, the automaker began reporting its financial results by business unit, instead of by region. The Detroit automaker earlier this year released revised results for 2021 and 2022 according to the new structure.