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Ford Motor Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average analyst estimate is for profit of 28 cents per share, a decline of 56.9% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved down from 41 cents. Between one and three months ago, the average estimate moved down. It also has dropped from 35 cents during the last month. Analysts are projecting profit to rise by 11.9% compared to last year’s $1.33.
Past Earnings Performance: The company topped estimates last quarter after missing forecasts the quarter prior. In the first quarter, it reported net income of 39 cents per share against a mean estimate of profit of 35 cents per share. In the fourth quarter of the last fiscal year, it missed forecasts by 7 cents.
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A Look Back: In the first quarter, profit fell 45.3% to $1.4 billion (35 cents a share) from $2.55 billion (61 cents a share) the year earlier, but exceeded analyst expectations. Revenue fell 2% to $32.45 billion from $33.11 billion.
Stock Price Performance: Between April 24, 2012 and July 23, 2012, the stock price fell $2.18 (-19.21%), from $11.35 to $9.17. The stock price saw one of its best stretches over the last year between December 28, 2011 and January 9, 2012, when shares rose for eight straight days, increasing 12.2% (+$1.28) over that span. It saw one of its worst periods between April 26, 2012 and May 8, 2012 when shares fell for nine straight days, dropping 10.6% (-$1.26) over that span.
Wall St. Revenue Expectations: Analysts predict a decline of 3.9% in revenue from the year-earlier quarter to $32.19 billion.
On the top line, the company is looking to get back on the right track after last quarter’s drop snapped a string of revenue increases. Revenue rose 1.3% in the second quarter of the last fiscal year, 10.6% in the third quarter of the last fiscal year and 6.6%in the fourth quarter of the last fiscal year before dropping in the first quarter.
The company is hoping to rebound with this earnings release after a net income drop last quarter. Net income rose 7065.8% in the fourth quarter of the last fiscal year before dropping in the first quarter.
Analyst Ratings: With eight analysts rating the stock a buy, one rating it a sell and five rating the stock a hold, there are indications of a bullish stance by analysts.
Balance Sheet Analysis: The company’s current ratio of assets to liabilities came in at 2.67 last quarter. Having a ratio above 2:1 is usually considered a good indicator of a company’s liquidity and ability to meet creditor demands. The company improved this liquidity measure from 2.64 in the fourth quarter of the last fiscal year to the last quarter driven in part by an increase in current assets. Current assets increased 2.5% to $136.34 billion while liabilities rose by 1.2% to $50.97 billion.
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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)
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