Ford Credit (F) 2017 Pre-Tax Profit Seen Down $300M from Prior Guidance
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Ford (NYSE: F) disclosed that Bob Shanks, executive vice president and chief financial officer, will host a “Let’s Chat” forum today to discuss key items of interest to the investment community. Today’s presentation will note that they continue to expect total company adjusted pre-tax profit to decline in 2017 compared with 2016, reflecting their planned investments in emerging opportunities, and improve in 2018. They continue to expect results for the core business (i.e., core Automotive and Ford Credit) to improve through 2018. They expect core Automotive business to improve both in 2017 and 2018, but due to lower auction values, they now expect Ford Credit’s pre-tax profit to be about $1.5 billion in 2017, down about $300 million from their prior guidance of “about equal to 2016.”
The company's effective tax rate (pct.), as well as its adjusted effective tax rate (pct.), is now expected to be in the high 20s in 2016.
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