Ford Motor Co
The automaker`s shares dropped more than 2 percent in extended trading. Ford`s downbeat forecast contrasted with a more positive outlook from Detroit rival General Motors Co
Ford also said it would start reporting separately the results of its investments in "mobility" businesses, such as self-driving delivery vehicles and ride services, and previewed a loss for those operations of $300 million for 2017.
Ford blamed exchange rates and rising prices for the commodities used in its vehicles for the projected decline in 2018 adjusted earnings, in a statement and materials released ahead of a presentation to analysts by Chief Financial Officer Bob Shanks and Jim Farley, president of global markets.
For full-year 2017, Ford said its adjusted earnings would be $1.78 per share, below analysts estimate of $1.83, according to Thomson Reuters I/B/E/S.
For 2018, Ford expects adjusted earnings of $1.45 to $1.70 per share. Analysts on average expected earnings of $1.62.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
04:20 AM IST