FILE PHOTO: Uber’s logo is displayed on a mobile phone in London, Britain, September 14, 2018. REUTERS/Hannah Mckay (Reuters) – Ride-hailing company Uber Technologies Inc will unveil terms for its initial public offering on Friday, telling investors it will seek to be valued at between $80 billion and $90 billion, according to people familiar with… Continue reading Uber to kick off investor roadshow with IPO terms on Friday
Tag: Financial Results
Volvo Cars reports first quarter 2019 results
Volvo Cars reports first quarter 2019 operating profit of SEK2,919 million CEO Håkan Samuelsson: “The sales growth in the first quarter proves the appeal of Volvo Cars product portfolio. We grew in all three regions and revenue continued to rise faster than volumes. Compared with last year, profitability was affected by higher tariffs… Continue reading Volvo Cars reports first quarter 2019 results
UPDATE 2-Ford Q1 profit beats Wall St view, more confident of stronger ’19
DETROIT (Reuters) – Ford Motor Co on Thursday posted a better-than-expected first-quarter as pickup truck sales remained strong in its core U.S. market and the company expressed greater confidence in its forecast that 2019 would bring better results than last year. FILE PHOTO: The Ford logo is seen at the North American International Auto Show… Continue reading UPDATE 2-Ford Q1 profit beats Wall St view, more confident of stronger ’19
UPDATE 1-Ford Q1 profit beats Wall St view, more confident of stronger ’19
(Adds details, background) By Nick Carey and Paul Lienert DETROIT, April 25 (Reuters) – Ford Motor Co on Thursday posted a better-than-expected first-quarter as pickup truck sales remained strong in its core U.S. market and the company expressed greater confidence in its forecast that 2019 would bring better results than last year. Ford has launched… Continue reading UPDATE 1-Ford Q1 profit beats Wall St view, more confident of stronger ’19
Ford jumps 4% on strong first-quarter earnings
Daniel Acker | Bloomberg | Getty Images
The Ford Motor Co. Mustang Shelby GT500 vehicle is displayed during the 2019 North American International Auto Show (NAIAS) in Detroit, Michigan,.
Ford's first-quarter earnings beat Wall Street estimates even as the industry grapples with falling sales while investing billions of dollars in new technology to develop autonomous and electric vehicles.
Ford's stock was up more than 3% in extended trading Thursday.
Here's how the company did compared with what Wall Street expected, based on average estimates compiled by Refinitiv:
Adjusted earnings per share: 44 cents vs. a forecast of 27 cents per share
Automotive segment revenue: $37.24 billion vs. a forecast of $37.08 billion
The company's total revenue was $40.34 billion during the quarter, lower than its $41.96 billion in revenue during the same quarter last year.
On an unadjusted basis, Ford's profit slid 34% from the year earlier. It earned $1.15 billion, or 29 cents a share, down from $1.74 billion, or 43 cents a share, during the same quarter last year.
Ford shares are up more than 23% year to date; however, they are down about 15% over the past 12 months.
The Detroit automaker continues to struggle overseas as demand falls across the industry in the U.S. North American profits were $2.2 billion.
The quarterly numbers come amid Ford's $11 billion restructuring plan, with an aim to slash costs by $14 billion over the next five years. The plan involves focusing on Ford's historically strongest segments like trucks, utilities, and muscle cars, while scaling back international operations, investing in new technologies, and featuring more profitable vehicles.
Ford announced Wednesday it has invested $500 million in electric truck maker Rivian to build a battery-powered electric vehicle.
The stock closed at $9.41 a share on Thursday.
The company is holding a conference call with CEO Jim Hackett and other executives at 5:30 p.m. ET to discuss the results.
This story is breaking news. Please check back for updates.
Balance sheet review: Continental’s reputation and share are down – but financial strength remains high
Two profit warnings within a few weeks have shaken the reputation of the automotive supplier. But the core business remains highly profitable. Go to source
Kia Motors Announces 2019 1Q Business Results
Kia’s 2019 1Q sales revenue at KRW 12.44 trillion Operating profit at KRW 594.1 billion; Net profit KRW 649.1 billion Total global sales of 648,913 units Kia to improve sales with new RV models including flagship SUV Telluride Kia Motors Corporation announced its 2019 first quarter business results today in Seoul. The company posted first… Continue reading Kia Motors Announces 2019 1Q Business Results
Q1 2019 Group revenue at €18 billion
Groupe PSA Q1 revenue slightly down 1.1% at €18 billion; Automotive division[1] revenue at €14.2 billion (-1.8%): Strong product mix and positive price effect; In Europe, steady market share increase: +0.3 pt[2] and sales up 1.6%; Negative impact of exchange rates especially in Argentina and Turkey; Consolidated worldwide sales down 15.7% in particular due to… Continue reading Q1 2019 Group revenue at €18 billion
PSA quarterly revenue declines as sales collapse in Iran and China
French carmaker PSA Group said first-quarter revenue fell 1.1 percent, as sales continued to decline in China and were also impacted by the Peugeot maker’s withdrawal from Iran. Go to Source
Tesla reports $702m quarterly loss
Tesla reported a loss of $702m for the first three months of the year and predicted another loss for the three months after. The electric car and battery maker said it would return to profit in the third quarter. It ended March with $2.2bn in cash, a reduction of $1.5bn in three months, largely down… Continue reading Tesla reports $702m quarterly loss