Ford reaffirms long-term strategy after poor Q2 2024 results

On 24 July 2024, Ford released its Q2 earnings report. The automaker underperformed against expectations, with adjusted profits coming in at US$0.47 per share. This is well below consensus analyst expectations of around US$0.68 and a 35% slide from the US$0.72 Ford reported in Q2 2023. For contrast, GM exceeded analyst expectations of US$2.72 earnings per share at US$3.06. Following the report, shares in Ford dropped more than 12% in pre-market trading, from US$13.66 to US$12.09.