Ford (F) and Blackstone (BX) released their latest earnings reports before opening bell this morning. Ford posted adjusted earnings of 30 cents per share on $38.7 billion in sales. Analysts had been expecting 31 cents per share and $34.99 billion in revenue.
Blackstone reported profits economic net income of 68 cents per share or $1.6 million, compared to the analyst estimate of 66 cents per share. In the same quarter a year ago, the firm reported 37 cents per share or $435.7 million.
Ford’s results decline
Ford’s GAAP losses were 20 cents per share, while net income was -$800 million, a decline of -$2.7 billion compared to the same quarter a year ago. Adjusted pretax profit was $2.1 billion, a decline of -$500 million in the year-ago quarter.
Full-year earnings per share declined 69 cents to $1.15 per share. Adjusted earnings per share for the full year declined 17 cents to $1.76 per share. The automaker’s global market share fell one-tenth of a percentage point year over year to 7.3%.
“We achieved a solid 2016 net income of $4.6 billion, as well as an adjusted pre-tax company profit of $10.4 billion, which was our second best ever – building on the all-time record we had set the year before,” Ford President and Chief Executive Mark Fields said in a statement. “This underscores the substantial progress we are making in expanding our business to be an auto and a mobility company. This year, we’re focused on building on our strengths, transforming underperforming parts of our business and investing in the emerging opportunities that will provide even more profitable growth in the future.”
Ford reaffirmed its previous guidance for this year, as it still expects 2017’s results to be “generally lower than 2016, driven by investments in emerging opportunities.”
Shares of Ford declined by as much as 0.86% to $12.68 in premarket trading this morning.
Blackstone shares rise
