Ford expects $2B quarterly loss after coronavirus fallout
The company is scheduled to report quarterly results on April 28
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Ford Motor Co. said it expects to report a loss of $2 billion for the first quarter as it deals with the fallout from the Covid-19 pandemic.
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The automaker earlier this week said it sees first-quarter revenue of about $34 billion and adjusted losses before interest and taxes of $600 million as it seeks to conserve cash. Analysts polled by FactSet expect adjusted earnings of 2 cents a share on sales of $35.42 billion for the quarter.
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The company is scheduled to report quarterly results on April 28. Ford last month withdrew its 2020 financial guidance as the outbreak worsened.
Shares rose 5.7% in premarket trading.