DETROIT — Ford Motor is saying first-quarter earnings after the markets shut Wednesday.

Here’s what Wall Road expects, based mostly on common analyst estimates compiled by LSEG:

• Earnings per share: 42 cents adjusted
• Automotive income: $40.10 billion

These outcomes would mark a 2.6% improve in income in comparison with a 12 months earlier and a 32.9% decline in adjusted earnings per share. Ford’s first-quarter 2023 outcomes included $39.09 billion in income; internet revenue of $1.8 billion, or 44 cents per share; and adjusted earnings earlier than curiosity and taxes of $3.38 billion.

The automaker’s 2024 steerage launched in February included adjusted earnings earlier than curiosity and taxes, or EBIT, of between $10 billion and $12 billion; adjusted free money circulate of $6 billion to $7 billion; and capital spending of $8 billion to $9.5 billion.

There may be much less consensus on Wall Road round Ford’s efficiency than there was for its crosstown rival Basic Motors, which on Tuesday reported robust first-quarter outcomes and raised its full-year steerage. Ford is Morgan Stanley’s “high decide,” however others on Wall Road are much less bullish on the corporate.

“Whereas we do like Ford relative to suppliers, we additionally proceed to choose GM relative to [Ford],” UBS analyst Joseph Spak stated in an investor word earlier this month.

Ford has confronted years of inflated guarantee prices, together with $1.9 billion in 2023, which have affected its earnings. The corporate final 12 months stated it has a $7 billion to $8 billion annual drawback in comparison with conventional rivals because of manufacturing prices, high quality points and different operational inefficiencies.

Traders will likely be looking ahead to enhancements in these areas in addition to progress in CEO Jim Farley’s “Ford+” restructuring plan, which was first introduced in 2021, and any further updates or delays to its all-electric car plans.

— CNBC’s Michael Bloom contributed to this report.

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