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Ford Crushes Profit Estimates Ahead of Cuts to Fund EV Shift

  • Adjusted profit more than tripled on higher vehicle prices
  • Shares of carmaker climbed in early trading Thursday
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Ford Earnings Top Estimates as Prices Cliimb
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Ford Motor Co., preparing to slash thousands of staffers to help fund its electric-vehicle future, reported second-quarter earnings that beat Wall Street estimates, as sales grew and car prices increased. Its shares rose 3.8% in early trading Thursday.

Adjusted earnings rose to 68 cents a share, more than the 45 cents analysts predicted on average, Ford said Wednesday. Adjusted earnings before interest and taxes more than tripled to $3.7 billion, well above the $2.37 billion analysts expected. That performance also compared favorably with Detroit-based rival General Motors Co.’s second-quarter adjusted profit of $2.34 billion.