On July 29, Ford rose 3.81% in regular trading, trading at $15.55/share, with turnover of $81.96 million. The stock gained on strong Q2 results that significantly exceeded market expectations.
Ford reported Q2 adjusted EPS of $0.42, beating the analyst consensus of $0.35-0.36 by approximately 20%. Revenue came in at $48.3 billion, above the $47.24 billion estimate. Adjusted EBIT reached $2.5 billion, up roughly 17% year-over-year, with the adjusted EBIT margin rising 90 basis points to 5.2%. Adjusted free cash flow totaled $2.1 billion for the quarter.
The company raised its full-year adjusted EBIT guidance to $10.0-$11.0 billion from $8.5-$10.5 billion previously, marking the second upward revision this year. Full-year adjusted free cash flow guidance was also lifted to $6.0-$7.0 billion from $5.0-$6.0 billion. Management cited improved vehicle pricing in the US market, product mix optimization toward high-margin pickups and SUVs, and enhanced cost controls as key drivers.
Multiple investment banks responded positively. Citi upgraded Ford to Buy with a $20 target, JPMorgan raised its target to $17 from $16 maintaining Overweight, and Deutsche Bank also raised its target price.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)