Ford Stock Rises On Q2 Revenue Beat: What Investors Should Know

Automotive giant Ford Motor Company F reported second-quarter earnings that came in ahead of Dearborn's guidance and what the Street was expecting.

What Happened: Second-quarter revenue of $26.8 billion was up 45% year-over-year. The total beat a Street consensus estimate of $23.8 billion.

Ford posted earnings per share of 13 cents in the second quarter, ahead of the loss of 10 cents per share expected by the Street.

The company saw strong demand for products and navigated through a semiconductor shortage in the second quarter.

The Mustang Mach-E was the second bestselling all-electric SUV in the U.S. seven months after its release and was named “Electric Vehicle of the Year” by Car and Driver, the company highlighted.

The F-150 Lightning has over 120,000 reservations since its May unveiling, with around 75% of reservations coming from new Ford customers.

Ford said its order book was seven times larger than in the same period last year.

Ford had automotive market share of 4.9% globally and 10.4% in North America at the end of the second quarter.

Related Link: Could Ford F-150 Lightning Have More Range Than Originally Shared?

What’s Next: For raised its full-year EBIT target to a range of $9 billion to $10 billion.

The company highlighted the upcoming five passenger pickup Maverick and the F-150 Lightning as models seeing strong demand for future revenue growth.

Ford Pro, a new service and distribution business for commercial vehicle services, was also highlighted by Ford in the earnings release.

CEO Jim Farley said the company is “spring loaded” for a rebound.

F Price Action: Ford shares are up 3% to $14.21 in after-hours trading.

Photo: the Ford Bronco. Courtesy photo.