They are smiling in Detroit tonight where the Detroit Free Press reported “Ford Motor Co. on Wednesday reported second-quarter adjusted earnings of $3.7 billion — more than triple that of the same period a year ago, when the company had a gain of $1.1 billion.
“The company saw a net income of $667 million compared with a $561 million net income for the same time period in 2021.
“Ford reported revenue of $40.2 billion compared with $26.8 billion in 2021. The Dearborn automaker reported $2.9 billion in operating cash flow and adjusted free cash flow of $3.6 billion, compared with a negative free cash flow of $5.1 billion a year ago.
“Overall, the company beat Wall Street expectations while also raising the shareholder dividend 50% and restoring payments to pre-pandemic levels.” Link to full story below:
https://www.freep.com/story/money/cars/ford/2022/07/27/ford-q-2-second-quarter-earnings/10164175002/
Ford (NYSE:F) closed Wednesday at $13.19/share on Wednesday 7/27/22 up over 5% on news of the strong report.
On Thurs, July 28, 2022 01:00 PM ET Ford management will discuss the results. See link below
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