Ford shares fell 7% in extended trading on Wednesday after the company reported second-quarter earnings that fell short of expectations.
Here’s what the company reported vs. what Wall Street analysts expected, based on average estimates compiled by Refinitiv:
- Adjusted earnings per share: 28 cents per share, vs. estimates of 31 cents per share
- Automotive revenue: $35.76 billion vs estimate of $35.07 billion
Ford shares were up more than 34% year-to-date through Wednesday but still down by about 2.6% over the past 12 months. After the earnings release, the stock fell nearly 7% in extended trading.
For 2019, Ford expects to earn $1.20 to $1.35, on an adjusted basis, compared with $1.30 a year earlier.
Ford, which has slashed thousands of jobs this year, is also investing $11 billion by 2022 in electric and hybrid vehicles.
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Correction: Ford earned 28 cents per share in the second quarter, falling short of analyst estimates. A previous version of this story excluded a loss from an investment in Pivotal Software.