Ford Motor (F) plans to lose $5 billion by the second quarter
- Ford Motor lost $632 million during the first quarter and warned investors that it expects an adjusted pretax loss of $5 billion during the second quarter.
- The automaker’s total revenue, which includes auto sales and financing, slid 14.9% to $34.3 billion.
- Wall Street is watching to see how much cash Ford burned in the quarter as well as any guidance for the second quarter.
- Investors are also keeping their eye out for important product launches, such as the Ford Bronco SUV and redesigned F-150 pickup. Both were expected this year.
- April 9, Ford said it had about $30 billion in cash on its balance sheet, including $15.4 billion of proceeds from borrowings last month against two existing credit lines.
About Ford Motors
Ford Motor Company is a global automotive and mobility company. The Company’s business includes designing, manufacturing, marketing, and servicing a full line of Ford cars, trucks, and sport utility vehicles (SUVs), as well as Lincoln luxury vehicles.