Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
»
1-min read

Ford Motors Affirms 2017 to Be Less Profitable Than 2016

Ford said it would be pressured as it increased spending on "emerging opportunities" including self-driving cars and a rise in other costs.

Reuters

Updated:January 11, 2017, 1:27 PM IST
facebookTwitterskypewhatsapp
Ford Motors Affirms 2017 to Be Less Profitable Than 2016
A 2018 Ford F-150 "King Ranch" pickup truck. (Photo: Reuters)
Loading...

Ford, the second-largest U.S. automaker, affirmed that it was on track to deliver about $10.2 billion in adjusted pretax profit in 2016, matching a forecast it gave previously.

Ford shares initially rose 0.5 percent in extended trading but by early Tuesday evening were flat with their closing value of $12.85. GM shares were also trading near their close of $37.35, up 3.7 percent from the previous day.

Ford said profit would improve in 2018 but in 2017 the company would be pressured as it increased spending on "emerging opportunities" including self-driving cars and a rise in other costs.

The company last week said it was on course to deliver a "high-volume, fully autonomous vehicle for ride-sharing in 2021" and a fully electric small SUV with a range of at least 300 miles on a full charge.

GM, the largest U.S. automaker, said it expected 2017 earnings per share in a range of $6 to $6.50. Analysts had, on average, predicted the company would post EPS this year of $5.76, according to Thomson Reuters I/B/E/S.

Ford on Tuesday declared a first-quarter regular dividend of $0.15 per share and a $200 million supplemental cash dividend, or an additional $0.05 per share. The regular dividend matched that of the first quarter of 2016, but the supplemental dividend was below the $0.25 per share payout announced a year ago.

Chief Executive Mark Fields in comments to Wall Street analysts at a meeting webcast from Detroit said the adjusted operating effective tax rate in 2016 was expected to be 32 percent. That was up from an expectation a few months ago for a 2016 tax rate of 28.5 percent, said Ford Chief Financial Officer Bob Shanks.

Shanks said that for 2017, Ford expected the adjusted operating tax rate to be about 30 percent.

| Edited by: Manav Sinha
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results