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Ford Motor Company raised its annual earnings outlook after a $1.3 billion tariff refund, but warned of higher aluminum costs and F-150 production disruptions linked to Novelis plant fires.
Ford received $1.3 billion in tariff relief due to a Supreme Court ruling in February.
KEY POINTS
- F-150 inventory has dropped 38% in April due to Novelis plant fires impacting aluminum supply.
- F-Series production fell 12% year-over-year in Q1, deeper than analysts previously anticipated.
- Ford now anticipates net tariff costs of $1 billion this year despite the $1.3 billion refund.
- Ford's Q1 adjusted earnings per share of 66 cents greatly surpassed analysts' 19-cent estimate.
COMPANIES
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