Ford Climbs Back Above $10 on `Rolling Stone' of Improvements
- Profit blows past estimates on cost cuts, lucrative trucks
- CFO says automaker more confident earnings to rebound in 2019
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Ford Motor Co. is fighting its way back from the single-digit stock doldrums, as strong demand for lucrative F-Series pickups and early fruits of massive cost cuts improve the automaker’s earnings outlook.
Adjusted profit of 44 cents a share in the first quarter blew past analysts’ average estimate of 26 cents. Automotive revenue slipped to $37.2 billion on lower global deliveries to dealers, but still exceeded the average projection of $37 billion.