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Ford Motor Falls After Q1 Earnings Miss

Tanzeel Akhtar

Ford Motor Company (NYSE: F) shares are trading lower on Tuesday, after the company reported worse-than-expected first-quarter EPS results.

The company reported first-quarter EPS at 23 cents per share compared to the analyst estimate of 12 cents per share. The company reported sales at $34.320 billion, which beat the $32.540 billion estimate,

Ford said the results were significantly reduced by effects of the coronavirus pandemic, "as protecting people and helping society respond to the crisis became primary measures of current success."

"Ford people are keeping each other safe, limiting the spread of the virus, safeguarding healthcare workers and first responders, and taking care of customers," CEO Jim Hackett said in a press release. "The imagination, initiative and execution of our team is helping save lives today, and those qualities will allow Ford to emerge from this as a stronger company."

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Ford Motor shares were trading down 5.6% at $5.07 in Tuesday's after-hours session. The stock has a 52-week high of $10.56 and a 52-week low of $3.96.

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