Ford On Track To Deliver Better Results In 2019; Q1 Profit Beats Estimates

(RTTNews) - The shares of Ford Motor Company (F) were up more than 9% after hours on Thursday as the company's first-quarter results surpassed analysts' projections. Ford said it is on track to deliver better company results in 2019 than last year.

For the first-quarter, company adjusted EBIT was $2.4 billion, up $262 million year over year, driven by strong performance in North America and at Ford Credit. Non-GAAP EPS was $0.44 compared to $0.43, prior year. GAAP earnings per share was $0.29 compared to $0.43. On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $0.27 for the quarter. Analysts' estimates typically exclude special items.

For the first-quarter, Automotive revenues were $37.24 billion compared to $39.01 billion, prior year. Analysts expected revenue of $37.08 billion for the quarter. Total revenues declined to $40.34 billion from $41.96 billion.