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Ford sticks with full-year profit despite surging costs

Ford sticks with full-year profit despite surging costs

Reuters · 07/27/2022 16:18
Ford sticks with full-year profit despite surging costs

- Ford Motor Co F reported better than expected second quarter profits and reaffirmed its profit outlook for the year, but said management is "actively looking" at how to offset surging costs.

Ford shares rose 5% on better than expected profits.

Ford said it expects commodity costs to rise by $4 billion for the year.

Ford said revenue for the quarter rose to $40 billion, up sharply from a year ago when supply chain problems slashed production.


(Reporting By Joe White
Editing by Chris Reese)

((Joe.White@thomsonreuters.com;))