Ford Motor Tops Q2 Results as Rising Car Prices Bolster Performance
2022.07.28 00:59
By Yasin Ebrahim
Investing.com — Ford Motor reported on Wednesday second-quarter earnings that topped Wall Street expectations on both the top and bottom lines, driven by rising car prices and strong performance in North America that helped offset rising costs.
Ford Motor Company (NYSE:F) shares gained 8% following the report in afterhours trading.
The automotive company announced earnings per share of 68 cents on revenue of $37.90 billion. Analysts polled by Investing.com anticipated EPS of 45 cents on revenue of $37.05 billion.
Looking ahead, the company maintained guidance for full-year 2022 adjusted EBIT of $11.5 billion to $12.5 billion, which would represent 15% to 25% growth from last year, and adjusted free cash flow of $5.5 billion to $6.5 billion.
