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The analysts wrote in a note, “We appreciate efforts in disclosure and accountability and note no apparent change to mid-term strategy, with Gen 2 focused on software centric and concentrated line-up making sense to us, but effective in ’26 leaving a less differentiated investment case in the interim years.”
Ford revised its adjusted EBIT forecast to be in the range of $11 billion-$13B (previously $9B-$11B), surpassing Jefferies’ predictions. In response, Jefferies raised its estimates by 10% to $11.9B, attributing the increase to a strong performance in H1 at Blue and momentum at Pro more than offsetting a guided $1.5B deterioration in Model e. However, despite Pro’s continued improvement, the firm decreased its 2024 estimates by 16% to $10.2B.
“Q2/H1 delivered better results and guidance but these are backward looking,” Jefferies analysts added. “We continue to run a slow-motion-soft-landing scenario with price normalization helping volume and cost inflation easing, aware of well-flagged risks from union negotiations.”
Shares of F are down 1.73% in premarket trading on Monday.
