Ford’s Q2 Profit Tumbles 56% on Lower Sales, Higher Taxes; Adjusted Results Beat View (F)

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Auto maker Ford Motor Company ( F ) on Wednesday posted a sharp decline in second quarter earnings, but adjusted results still beat Wall Street's expectations.

The Dearborn, MI-based company reported second quarter net income of $1.04 billion, or 26 cents per share, compared with $2.4 billion, or 59 cents per share, in the year-ago period. Excluding special items, adjusted operating profit was 40 cents per share.

Revenue fell 6% from last year to $33.3 billion.

On average, Wall Street analysts expected a smaller profit of 28 cents per share, on lower revenue of $33 billion.

Ford shares rose 13 cents, or +1.4%, in premarket trading Wednesday.

The Bottom Line
Shares of Ford Motor Company ( F ) have a 2.21% dividend yield, based on last night's closing stock price of $9.06. The stock has technical support in the $8 price area. If the shares can firm up, we see overhead resistance around the $10-$11 price levels.

Ford Motor Company ( F ) is not recommended at this time, holding a DARS™ Rating of 3.0 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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