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 Dividend.com DARS™ Rating of 3.1 out of 5 stars.