Ford Warns it Lost $2 Billion in the First Quarter As Coronavirus Crushed Sales

Ford Motor Company (NYSE: F) warned Friday that it will post a first-quarter net loss of about $2 billion on a sharp decline in sales due to the coronavirus pandemic.

In a new filing with the Securities and Exchange Commission on Friday morning, Ford said that it expects to report a net loss of about $2 billion for the first quarter, on revenue of roughly $34 billion. Both numbers fell short of the consensus Wall Street estimates as reported by FactSet, which call for net income of $278.3 million on revenue of $35.4 billion. 

Image source: Ford Motor Company.

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Source Fool.com