je.st
news
Shareholders balk as Ford hedges profit outlook
2014-09-30 08:04:43| Automakers - Topix.net
Higher recall costs in North America and steeper losses in Russia and South America have caused Ford Motor Co to slash its forecast for pretax profit this year to $6 billion, from $7 billion to $8 billion previously, executives told investors at a briefing on Monday. Chief Financial Officer Bob Shanks said record profits in North America aren't enough to offset trouble in South America, where Ford expects to lose $1 billion this year, and Russia, where falling sales and the rapid deterioration of the ruble took the company by surprise.
Tags: profit
ford
outlook
shareholders
Category:Automotive
Latest from this category |
All news |
||
|