Ford's Second-Quarter Loss Could Exceed $5 Billion
Ford Motor Company (NYSE: F) said that its second-quarter operating loss could exceed $5 billion, but it has enough cash to stay afloat at least through year-end, even if can't reopen its factories.
As expected, Ford reported a net loss of $2 billion for the first quarter, following the abrupt shutdown of most of its factories in mid-March as COVID-19 spread around the world. On an adjusted basis, excluding one-time charges, Ford lost $0.50 per share.
There were few surprises in the automaker's first-quarter earnings report. But there were some items of note in Ford's review of actions taken since its factories were idled, and in its outlook for the next few months.
Source Fool.com
