Earnings Review and Free Research Report: Fords Q2 Results Outperformed Projections

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Accesswire 8-Aug-2017 7:50 AM
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Research Desk Line-up: Honda Motor Post Earnings Coverage
LONDON, UK / ACCESSWIRE / August 8, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Ford Motor Co. (NYSE: F), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=F, following the Company's announcement of its second quarter fiscal 2017 (Q2 FY17) on July 26, 2017. The Dearborn, Michigan-based Company's adjusted earnings per share grew 8% on a year-over-year basis; beating market consensus estimates. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
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Get more of our free earnings reports coverage from other constituents of the Auto Manufacturers - Major industry. Pro-TD has currently selected Honda Motor Co., Ltd (NYSE: HMC) for due-diligence and potential coverage as the Company announced on August 01, 2017, its consolidated financial results for Q1 FY17 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Honda Motor when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on F; also brushing on HMC. With the links below you can directly download the report of your stock of interest free of charge at:
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Earnings Reviewed
In Q2 FY17, Ford reported total revenue of $39.85 billion, rising from $39.49 billion reported in Q2 FY16. Total revenue numbers for the reported quarter outperformed market expectation of $37.10 billion.
The automobile Company reported GAAP net income attributable to Ford of $2.04 billion, or $0.51 per diluted share, in Q2 FY17 compared to $1.97 billion, or $0.49 per diluted share, in Q2 FY16. The Company's non-GAAP net income for the reported quarter stood at $2.24 billion, or $0.56 per diluted share, up from $2.09 billion, or $0.52 per diluted share, in Q2 FY16. Meanwhile, Wall Street had expected the Company to report adjusted pre-tax profit of $0.44 per diluted share.
Segment Performance
Ford Automotive
During Q2 FY17, Ford's Automotive segment's revenues increased to $37.11 billion from $36.93 billion in the prior year's same quarter. However, wholesale volumes also fell by around 43 thousand units y-o-y to 1.65 million units in Q2 FY17. Additionally, the pre-tax profit declined to $2.19 billion in Q2 FY17 from $2.83 billion in the year ago comparable quarter.
Geographical Contribution
The Automotive segment's North American revenues increased to $24.5 billion in Q2 FY17 from $23.8 billion in Q2 FY16. Meanwhile, wholesale volumes declined to 807 thousand units Q2 FY17 from 815 thousand units in the prior year's corresponding quarter. Furthermore, the regional's Q2 FY17 pre-tax profit contribution fell to $2.2 billion from $2.7 billion in the last year's comparable quarter.
In Q2 FY17, the segment's South American revenues increased 18% to $1.5 billion. Wholesale volumes rose 12% y-o-y to 93 thousand units in the reported quarter. Moreover, the pre-tax loss narrowed to $185 million during Q2 FY17 from $265 million in the prior-year's same quarter.
The revenues from the European region were down to $7.1 billion in Q2 FY17 from $8.1 billion in the previous year's same quarter. Wholesale volumes were also down to 375 thousand units in Q2 FY17 from 430 thousand units in Q2 FY16. Furthermore, the region's pre-tax profit declined to $88 million in Q2 FY17 from $467 million in the last year's comparable quarter.
During Q2 FY17, revenues from Middle-East & Africa region declined to $0.6 billion from $1.0 billion in Q2 FY16. The wholesale volumes also fell to 24 thousand units in Q2 FY17 from 38 thousand units. The region reported a pre-tax loss of $53 million in Q2 FY17 compared to pre-tax loss of $65 million in Q2 FY16.
The Asia/Pacific region's revenues came in at $3.4 billion for Q2 FY17, up 21% from $2.8 billion in the prior year's corresponding quarter. The region's wholesale volumes grew 7% y-o-y during the reported quarter to 352 thousand units. Additionally, the region reported pre-tax profit of $143 million for Q2 FY17 versus pre-tax loss of $8 million in Q2 FY16
Financial Services
In the reported quarter, the segment's revenues rose to $2.74 billion from $2.55 billion in Q2 FY16. However, the segment's pre-tax profit surged to $603 million in Q2 FY17 from $385 million in the previous year's comparable period.
Cash Flow & Balance Sheet
For the six months ended on June 30, 2017, Ford used $12.11 billion of cash in its operating activities compared to cash used in operating activities $8.86 billion at the end of quarter in the year ago same period. The Company had cash and cash equivalents balance of $16.22 billion as on June 30, 2017, compared to $17.06 billion at the close of books on June 30, 2016. Furthermore, the Company had Automotive long-term debt and Financial Services long-term debt amounting to $16.19 billion and $81.96 billion, respectively, as on June 30, 2017.
Dividend and Share Repurchases
In a separate press release on July 13, 2017, Ford's Board of Directors declared a third quarter dividend of $0.15 per share. The dividend is payable on September 01, 2017, to shareholders of record at the close of business on July 24, 2017.
Guidance
In its outlook for full year FY17, the company expects adjusted EPS in the range of $1.65 to $1.85.
Stock Performance

At the close of trading session on Monday, August 07, 2017, Ford Motor's stock price marginally fell 0.27% to end the day at $10.92. A total volume of 35.01 million shares were exchanged during the session. The Company's shares are trading at a PE ratio of 11.49 and have a dividend yield of 5.49%. At Monday's closing price, the stock's net capitalization stands at $43.29 billion.

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