Earnings Preview: Ford

Apr.26.12 | About: Ford Motor (F)

Ford (NYSE:F) is expected to report Q1 earnings before the market open on Friday, April 27 with a conference call scheduled for 9:00 am ET.


Analysts are looking for EPS of 35c on revenue of $31.49B. The consensus range is 30c-40c for EPS, and $30.15B-$33.75B for revenue, according to First Call. In 4Q11, the car company missed EPS estimates citing weakness in Europe and Asia, compounded by the Thai flooding impact. In early March, the company CFO said, "Over-capacity and the over-hang of the European debt crisis may leave Ford's European sales to be at the bottom end of the scale we talked about, in the range of 14M." Sales in China may also disappoint, as the China Association of Automobile Manufacturers reported that total vehicle sales in China fell 3.4% in Q1. Positives for Ford in Q1 may be seen coming from its North American operations and an improving balance sheet as seen in the recent Fitch upgrade.

Analyst Views

On April 23, UBS noted that GM's (NYSE:GM) North America production is up 10%, while its full-size pick-up production is up 20% year-over-year. The firm still prefers Ford over GM, but maintains Buy ratings on both stocks.