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Ford Motor’s Q1 Profit Plunges 45%, but Adjusted Results Still Beat View (F)

Auto maker Ford Motor Company (F) on Friday posted a sharp decline in first quarter earnings, but adjusted totals still bested Wall Street’s expectations.

The Detroit-based company reported first quarter net income of $1.4 billion, or 35 cents per share, compared with $2.55 billion, or 61 cents per share, in the year-ago period. Excluding special items, adjusted profit was 39 cents per share.

Revenue fell 2% from last year to $32.4 billion.

On average, Wall Street analysts expected a smaller profit of 35 cents per share, on slightly lower revenue of $32.3 billion.

Ford shares posted modest gains in premarket trading Friday.

The Bottom Line
Shares of Ford Motor Company (F) have a 1.68% dividend yield, based on last night’s closing stock price of $11.87. The stock has technical support in the $10 price area. If the shares can firm up, we see overhead resistance around the $13-$14 price levels.

Ford Motor Company (F) is not recommended at this time, holding a DARS™ Rating of 3.1 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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