Ford Motor Company F shares are trading lower on Friday. The company is anticipated to release quarterly earnings next week on July 24 and announced its expanding F-Series Super Duty production.
The Details: Analyst estimates Ford’s EPS at 68 cents and revenue at $43.75 billion for the 2024 fiscal year second quarter.
In a press release, the company announced that it plans to start assembling F-Series Super Duty pickups at its Oakville Assembly Complex in Ontario, Canada during 2026. The vehicle company anticipates investing about $2.3 billion into the Oakville complex in order to make it suitable for the F-Series Super Duty pickups production.
This will become Ford’s third location for the pickups assembly. Besides the investment in the Oakville complex, Ford will also invest millions into hiring new employees and paying overtime to support the pickups production.
“Super Duty is a vital tool for businesses and people around the world and, even with our Kentucky Truck Plant and Ohio Assembly Plant running flat out, we can’t meet the demand,” said Jim Farley, Ford president and CEO.
“At the same time, we look forward to introducing three-row electric utility vehicles, leveraging our experience in three-row utility vehicles and our learnings as America’s No. 2 electric vehicle brand to deliver fantastic, profitable vehicles.”
See Also: Car Dealership Data Provider Suffers Cyber Incident, Actively Investigates
F Price Action: At the time of publication, Ford stock is moving 3.78% lower at $14.00 per data from Benzinga Pro.
Image: Photo via Wikimedia Commons
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