Ford is expected Wednesday to report a slight loss for the second quarter due to the semiconductor chip shortage causing significant production cuts.
is expected Wednesday to report a slight loss for the second quarter as the semiconductor chip shortage causes significant production cuts and low vehicle inventories.Adjusted results:Ford last month said its adjusted pretax earnings for the second quarter would top its expectations and be "significantly better than a year earlier," while net incomeThe company reported a net profit of $1.1 billion and an adjusted pretax loss of $1.9 billion during the second quarter of 2020.
In April, Ford forecasted its adjusted pretax profit for the year to range from $5.5 billion to $6.5 billion, including an adverse effect offrom the semiconductor shortage. That impact was the high end of a previously guided loss due to the problem. Outside of Ford's earnings and any change to guidance, Wall Street analysts will be looking for updates on CEO Jim Farley'sShares of Ford have more than doubled since Jim Farley
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