News Break: Unexpected Quarterly Loss At Ford (F)
UPDATED BELOW Ford Motor Co. (NYSE: F) is going to report a loss for the quarter. CNBC’s Phil LeBeau just announced that a presentation at a conference is telegraphing that the best financially sound U.S. auto maker is blaming the…
UPDATED BELOW
Ford Motor Co. (NYSE: F) is going to report a loss for the quarter. CNBC’s Phil LeBeau just announced that a presentation at a conference is telegraphing that the best financially sound U.S. auto maker is blaming the loss due in part to disruptions from the very problematic Thai floods which hurt technology and other sectors due to component supply disruptions.
UPDATE 11:15 AM EST: LeBeau Has Just changed his statement… He said that Ford is now saying that it will NOT report a loss.
Some may ask if this is more than just supply issues, but Ford did recently announce that it was going to restore its paying a quarterly dividend to its common stock owners. Ford shares were up before the breaking news but the stock has now turned slightly negative on the day.
Shares are down 0.6% at $11.73 versus a 52-week trading range of $9.05 to $18.97. The news is hard to interpret on such a small short blurb because Thomson Reuters has estimates of $0.26 EPS on sales of more than $32.3 billion for the fourth quarter alone. We also had already seen the December sales reports from all of the auto makers last week.
JON C. OGG
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
