News Break: Unexpected Quarterly Loss At Ford (F)
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