Automobile manufacturing giant Ford Motor Company (F) announced early on Wednesday that it earned a second quarter profit that advanced 19% year-over-year, as overall sales continued to improve globally. Adjusted earnings and revenues beat Wall Street estimates.
The Dearborn, Michigan-based company posted second quarter net earnings of $1.233 billion, or 30 cents per share, up from $1.04 billion, or 26 cents per share, earned in the same period a year ago.
On an adjusted basis, which excludes special one-time items, Ford’s earnings per share came in at 45 cents in the quarter. On average, analysts polled by Thomson Reuters were expecting the company to earn an adjusted 37 cents per share in the quarter.
Ford’s second quarter revenues grew to $38.1 billion, up from $33.3 billion in the year ago quarter. Analysts were expecting the company to post revenues of $35.24 billion in the quarter.
Ford shares were up 55 cents, or 3.25%, during pre-market trading on Wednesday. The stock has gained 30.81% year-to-date.
The Bottom Line
Shares of Ford (F) have a dividend yield of 2.36% based on last night’s closing price of $16.94 and the company’s annualized dividend payout of $2.36 per share.
Ford Motor Company (F) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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