Ford forecasts Q4 loss
Ford said yesterday it expects to post a $112 million loss in the fourth quarter of 2018 as it restructures in the United States and Europe. The second biggest US automaker said it will still post a profit after charges stemming from the drive to cut $11 billion in costs, financial documents showed.
The adjusted profit per share is set to be 30 cents during this period, less than the 32 cents anticipated by the markets. Across all of 2018, Ford will post a net profit of $3.7 billion, half the 2017 result. Adjusted earnings per share are expected to be $1.30 across the year, right at the lower end of its $1.30-1.50 estimate in October.
The figures were released just a day after the automaker announced a global alliance with Germany’s Volkswagen to build commercial vans and pickups starting in 2022, though the deal does not involve cross-ownership. Ford is aiming to post better financial results this year than last, but warned that Brexit, tariffs, currency fluctuations, salary negotiations and the health of the Chinese and European economies will have an impact.
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