By Christopher Otts
Production halts and an unprofitable EV business nearly wiped out Ford Motor's net profit in the first quarter, the company said Monday.
Ford reported net income of $471 million, down from $1.3 billion a year earlier. Revenue fell to $40.7 billion, down from $42.8 billion in the first quarter of 2024. Wholesale deliveries fell 7% to 971,000 during the three-month period, which Ford attributed to slower production of some models.
Adjusted pretax income shrank to $1 billion, from $2.8 billion a year earlier. The result exceeded analyst and Ford's own forecast in February, when it projected adjusted earnings of around $0 for the quarter.
At the same time, Ford suspended its guidance for the full year, saying it couldn't predict the full impact of President Trump's tariffs on its business. The company expected that tariff-related costs would shave around $1.5 billion off its adjusted pretax earnings.
Write to Christopher Otts at christopher.otts@wsj.com
(END) Dow Jones Newswires
May 05, 2025 16:10 ET (20:10 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。