00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Ford raised its full-year profit forecast and remained optimistic that Americans would keep
00:07buying large pickups and SUVs, even as second-quarter revenue and U.S. sales declined,
00:12according to The Wall Street Journal. Ford CEO Jim Farley said the company will invest
00:17only in areas where it has or can build a competitive advantage and where spending can
00:22generate lasting returns and profitable growth. Ford raised its full-year adjusted earnings
00:27forecast to between $10 billion and $11 billion from its previous range of $8.5 billion to $10.5
00:34billion. Adjusted earnings came in at $0.42 per share, beating expectations of $0.36,
00:40while revenue fell 4% as U.S. sales declined following a supplier fire and the discontinuation
00:45of higher-volume models. The automaker reported a $1.33 billion quarterly loss tied largely to
00:53electric vehicle program cancellations and the end of a battery joint venture.
00:57Ford also said it plans to launch a $30,000 all-electric pickup in 2027 and is pursuing
01:04additional defense-related projects with the U.S. government.
01:07Shares were up 7% in after-hours trading on Tuesday.
01:11For all things money, visit Benzinga.com.
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