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Ford profit beats estimates; maintains 2017 profit outlook

Ford shares were down slightly at $11.54 in early trade

Reuters  |  Detroit 

Ford Motor Co reported a lower quarterly net profit on Thursday but beat analyst expectations amid higher commodity, engineering and recall costs, and a drop in vehicle sales Ford shares were down slightly at $11.54 in early trade. The No. 2 US automaker, which reiterated its pretax profit forecast for 2017, warned investors in late March that higher costs and lower sales volumes would hurt quarterly earnings. Chief Financial Officer Bob Shanks told reporters at the company's headquarters in Dearborn, Michigan, that additional costs made this the "toughest ...

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First Published: Thu, April 27 2017. 22:28 IST