Ford profit misses expectations, 2015 profit outlook affirmed
By Bernie Woodall and Ben Klayman
DEARBORN, Mich, April 28 (Reuters) - Ford Motor Co on Tuesday posted a profit that missed analyst expectations as it sold fewer vehicles in North America due to the rollout of the F-150 pickup truck and continued to lose money in South America and Europe.
The No. 2 U.S. automaker maintained its full-year forecast of pretax profit of between $8.5 billion and $9.5 billion. The company improved its forecast for North American operating margin to 8.5 percent to 9.5 percent from 8 percent to 9 percent.
Net income in the first quarter fell 7 percent to $924 million, or 23 cents a share, compared with $989 million or 24 cents a share a year earlier. Analysts had expected earnings of 26 cents a share, according to Thomson Reuters I/B/E/S. (Reporting by Bernie Woodall and Ben Klayman in Dearborn, Mich)
© Thomson Reuters 2017 All rights reserved.