Ford: Novelis Aluminum Recovery Set to Boost Ford Pro
Dow Jones
Jul 29
Ford Pro's second-quarter earnings before interest and taxes fell $600 million year over year to $1.7 billion as temporary aluminum supply constraints from Novelis continued to weigh on the commercial vehicle segment. The company expects those headwinds to reverse, projecting a net EBIT tailwind of about $1 billion from Novelis for the full year, heavily weighted to the second half. Ford Pro generated a 9.7% EBIT margin on $17.8 billion of revenue in the quarter, and the company maintained full-year segment EBIT guidance of $7 billion to $7.5 billion. The segment holds a roughly 40% share of Class 1-7 U.S. vehicle sales.
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