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Ford Down 7% Following Q2 Earnings Release

Ford Motor Company F reported better-than-expected revenue for the second quarter. However, its adjusted EPS fell shy of the Street analysts expectations.

Ford reported net income of $2.0 billion, down $190 million from the year-ago while its total adjusted pre-tax profit was $3.0 billion, down $293 million. The company's EPS were $0.49, down $0.05 from the previous year period. Its adjusted earnings per share were also down by $0.02 to $0.52, which fell short of the Street analysts' estimation of $0.60.

The second biggest American automaker reported revenue of $39.5 billion, higher than the Street estimation of $36.31 billion.

President and CEO, Mark Fields, commented, "We delivered another strong quarter – one of our best second quarters ever – and record pre-tax profits for the first half of this year. We remain committed to delivering another full year of strong profitability, even as we address some new risks and market challenges around the world."

Ford said its market share of 7.5 percent was down three-tenths of a point from the previous year period.

Moving ahead, the company expects another strong year of results. The company indicated it was committed to full year guidance of pretax profit and operating margin equal to or better than last year. However, the automaker also expects risks challenging achieving guidance.

Following the results, the stock traded down 7 percent to $12.85 in the pre-market.

© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.