Ford Beats Sales Estimates on Strong Demand for Work Trucks
- Commercial unit sees revenue rise 36% on pickup deliveries
- Automaker delaying, discounting EV models as sales grow slowly
Ford Motor Co., rapidly retooling its electric vehicle strategy in a decelerating market for plug-ins, posted first-quarter results that beat expectations on strong sales of work trucks.
The automaker Wednesday reported adjusted earnings per share of 49 cents, topping the 42 cents analysts expected on average. Revenue in the period of $42.8 billion surpassed the $40 billion analysts expected.