Ford Profit Miss Imperils 2016 Target as U.S. Demand Stalls
- Sputtering home market pressures margins in key region
- Investors remain wary of shares on belief earnings are peaking
Ford CEO: Brexit Effect Is Both FX, Demand Problem
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Ford Motor Co.’s second-quarter profit fell short of analysts’ estimates, driving shares down the most in 11 months, after the company warned that a stalling U.S. auto market threatens its full-year earnings target.
“We’re committed to meeting our guidance, but it is at risk,” Chief Financial Officer Bob Shanks told reporters Thursday. The company now says it’s unlikely that U.S. vehicle sales will break last year’s record, and Shanks predicted further contraction in 2017. “We don’t see growth, at least in the near term.”