The American car manufacturer Ford has made a projection of its activity for the second quarter of 2021. The group has unveiled its earnings outlook for the entire period. It expects its adjusted Ebit to come out above all expectations. Full Q2 2021 results are expected to be released on 28 July, along with financial targets for the second half of the current financial year.
Ahead of the automotive conference to be attended by its CEO, Jim Farley, the Ford Group has given indications of some of its forecasts for the second quarter of 2021. In passing, it should be remembered that this conference is an initiative of Deutsche Bank.
Thus, the American car manufacturer announced that its adjusted operating profit (Ebit) for Q2-2021 will be much better than expected. It should grow significantly and even exceed the group's expectations. Also, it should come out higher than its level of a year ago (in the second quarter of 2020).
However, the company is less optimistic about its net profit outlook. According to Ford's forecasts, it is expected to decline over the whole of the second quarter of 2021. It is therefore expected to be significantly lower than in Q2 last year.
As a reminder, in Q2-2020, the company recorded solid results. The latter had indeed benefited from a gain of 3.5 billion dollars. This was the result of an investment in Argo AI.
The Ford Group says it has seen an improvement in its business in the period from the date of its latest outlook to the end of April. However, the company has not been immune to the crisis that has been affecting the automotive sector in recent months due to the global shortage of semiconductors.
This makes it difficult for car manufacturers to source semiconductors. Despite this difficult situation, the American company believes that it has benefited from lower than expected costs. Also, it says it has benefited from favourable market conditions. In addition, Ford has highlighted the interest of its customers in some of its vehicle models.
These include the latest Bronco SUV, the E-Transit pickup, the F-150 Lightning electric pickup and the Maverick. It is worth noting that all of these vehicles are backed by customer reservations.
Founded in 1903 and based in Michigan, Ford is an American car manufacturer. It is the second largest car manufacturer in the country. The company offers modern, revolutionary and stylish vehicles. The company has also gained a high level of customer satisfaction for the quality of its car models.
In addition, the group offers vehicle models that comply with environmental standards. The company strives to reduce their harmful effects on the environment as much as possible. In its fiscal year of last year (2020), Ford achieved a turnover of 127.1 billion dollars.