Ford Motor (NYSE: F) reported Q1 EPS of $0.23, $0.04 worse than the analyst estimate of $0.27. Revenue for the quarter came in at $33.9 billion versus the consensus estimate of $33.9 billion.

Highlights:

• Net income of $924M, or 23 cents per share, down $65M or 1 cent compared with a year ago
• Automotive operating-related cash flow positive; cash and liquidity in line with targeted levels
• Wholesale volume and Company revenue down due to major product launches and the impact of the strong U.S. dollar on international revenue
• North America, Asia Pacific and Middle East & Africa profitable
• Three of 15 global new product launches complete; remainder on track
• Strong profit at Ford Credit
• Continued Lincoln growth in China
• Confirmed commitment to the Russian market Inaugurated assembly plant in Hangzhou, China and assembly and engine plants in Sanand, India Raised first quarter dividend by 20 percent to 15 cents per share
• Company reconfirms 2015 pre-tax profit guidance of $8.5B to $9.5B; improves North America operating margin guidance to 8.5-9.5 percent and revises South America profit guidance down in light of external environment