UPDATE: Ford Motor (F) Tops Q1 EPS by 20c

(Updated - April 28, 2016 7:05 AM EDT)

Ford Motor (NYSE: F) reported Q1 EPS of $0.68, $0.20 better than the analyst estimate of $0.48. Revenue was $37.7 billion, versus the consensus at $35.7 billion.

“The first quarter was an absolutely terrific start to the year – an all-time record for the company, with very strong performance across the business. We’re excited about our future and confident in our ability to deliver long-term growth and profitability, as we expand our business model to be both an auto and a mobility company.” - Mark Fields, Ford President and CEO

Highlights:

• Record quarterly pre-tax profit of $3.8B, up $2.1B; net income of $2.5B, up $1.3B; after-tax earnings per share of $0.68, excluding special items, up $0.39 from a year ago
• Strong Automotive operating-related cash flow of $2.7B, a first quarter record
• Record Automotive pre-tax profit of $3.3B, up $2.0B; Automotive operations outside North America profitable in total
• Record Automotive operating margin of 9.8 percent
• North America quarterly record pre-tax profit and operating margin
• Europe fourth consecutive quarterly profit and best quarter since 2008
• Ford Credit continued to deliver strong results
• Distributed $1.7B to shareholders including a regular quarterly dividend and a supplemental dividend of $1B
• Global market share up two-tenths of a percentage point from a year ago at 7.1 percent with gains in North America, Europe and Asia Pacific
• Launched new Fusion V6 Sport and announced plans for four all-new SUVs; on track for 12 global product launches
• Announced Ford Smart Mobility LLC subsidiary to design, build, grow and invest in emerging mobility services
• Became the first automaker to test autonomous driving in the snow
• Ford named a World¡¦s Most Ethical Company by Ethisphere Institute for the seventh year in a row; only automaker on the list
• For 2016, continue to expect another strong year with sustained strong financial performance and returns and profitability across all parts of the business except South America

For earnings history and earnings-related data on Ford Motor (F) click here.

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