5 Takeaways From Ford’s First-Quarter Report
Ford Motor Co. (NYSE:F) on Friday released its quarterly report for the first quarter of 2014, and right off the bat, investors latched onto the earnings miss that fell well below analysts’ expectations due to onetime special items and charges. On Friday, Ford’s stock finished lower 3.31 percent below Thursday’s close.
Special charges aside, Ford appears to have stayed on dry ground, as wholesale orders and revenue both saw growth. Despite the major headwinds on profit, the company still remained profitable overall.
“We had a solid quarter, and we are on track with our most aggressive product launch schedule in our history,” said Alan Mulally, president and CEO. “Our One Ford plan continues to deliver as we serve customers in more markets around the world with a full family of vehicles committed to best-in-class quality, fuel efficiency, safety, smart design and value.”
Europe made significant progress in its return to being profitable for Ford, and Asia Pacific continued to outperform.
“The underlying run rate of our business in the first quarter was strong,” said Bob Shanks, Ford’s executive vice president and chief financial officer. “We are particularly encouraged by Asia Pacific’s record profit, driven by very positive customer response to our new products, underscoring the traction and success of our growth plans in what is now the largest market in the world. In addition, the improvement in Europe confirms the progress we continue to make toward achieving a profit in 2015.”
Here are five notable factors to take away from Ford’s recently closed quarter.