Ford earnings (NYSE:F) were released late in the day on Wednesday and the company’s stock declined late in the day due to its results coming in below what Wall Street was calling for in its consensus estimate.
The automotive giant said it brought in revenue of $41.8 billion for its fourth quarter of its fiscal 2018, which did come in ahead of the $41.3 billion it brought in during the same period a year ago. The company added that its automotive segment revenue brought in $38.7 billion in sales, topping the $36.88 billion that analysts who were surveyed by Refinitiv projected.
Ford added that its adjusted earnings for the period came in at 30 cents per share, missing the Wall Street consensus estimate of 32 cents per share that analysts were calling for, per Refinitiv. The company’s North America revenue increased by $1.7 billion, although it fell in every other region across the world.
The company’s figures were especially lackluster in South America where it lost market share in every major market not named Peru. Ford was affected negatively by unfavorable exchange rates and a lower sales volume total that took a toll in its profits, especially in Europe and Asia.
F stock is sliding roughly 0.2% after the bell on Wednesday following the company’s underwhelming fourth-quarter results to end its fiscal year. Shares had been falling close to 1.9% during regular trading hours as the company geared up to report for the period.
