Ford expects $2B quarterly loss after coronavirus fallout
The company is scheduled to report quarterly results on April 28
Ford announces plans to bring some key North American plants back online as early as April 6
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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.