Ford (F) fell in after-hours trading following a New York Times report quoting the CFO Robert Shanks as saying that international losses are mounting. In fact, total international losses could be three times as large as the $190 million Ford lost overseas in the first quarter, Shanks said.
�We have good results in North America and solid results at Ford Credit, but international losses will be triple,� he told the Times. �The overall company profits will be substantially lower.�
Ford could also shut one of its five European plants.
Shares are down 3.6% after-hours.
No comments:
Post a Comment