On July 30, Ford declined 3.08% in regular trading, trading at $14.78/share, with turnover of $206 million. The pullback followed a roughly 7% surge the prior session driven by strong Q2 earnings results.
Ford reported Q2 adjusted EPS of $0.42, beating the consensus estimate of $0.35-$0.36 by approximately 20%. The company raised its full-year adjusted EBIT guidance to $10.0-$11.0 billion from a prior range of $8.5-$10.5 billion, marking the second upward revision this year. Adjusted free cash flow guidance was also lifted to $6.0-$7.0 billion. However, Ford posted a GAAP net loss of $1.3 billion for Q2, primarily due to a $3.6 billion one-time charge related to the disposal of the BlueOval SK battery joint venture and $500 million in EV project cancellation costs.
Additionally, Ford recently announced a recall of over 565,000 Bronco and Bronco Raptor vehicles due to engine compartment wiring harness short-circuit fire risks. Multiple analysts raised price targets post-earnings, with the average target now around $15.88.
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