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Ford Beats on First-Quarter Profit, Warns of Opaque 2023 Outlook
- First-quarter profit and revenue far exceeded expectations
- Automaker’s CFO sees more pricing pressure in second half
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Ford Motor Co. beat first-quarter profit estimates on higher vehicle pricing and increased volumes, but left its full-year outlook unchanged over concern about pricing power and growing global economic uncertainty.
The automaker Tuesday posted adjusted earnings per share of 63 cents, far exceeding the 42 cents analysts estimated. That came in above the 38 cents it reported for the same period a year ago and 51 cents in the previous quarter.