Auto Stock Roundup: Ford, Harley, PACCAR Earnings Beat, Genuine Parts Miss
Zacks Investment Research | Apr 25, 2018 09:53PM ET
The past week saw several important auto companies including Genuine Parts Company (NYSE:GPC) , PACCAR Inc. (NASDAQ:PCAR) , Harley-Davidson Inc. (NYSE:HOG) , Penske Automotive Group, Inc. (NYSE:PAG) and Ford Motor Company (NYSE:F) reporting their quarterly numbers. While Ford, Penske Automotive, Harley-Davidson and PACCAR beat on earnings, Genuine Parts Company missed the estimate.
However, per the latest Penske Automotive’s Q1 Earnings & Sales Top Estimates )
Penske Automotive carries a Zacks Rank #3.
5. Ford posted adjusted earnings per share of 43 cents in the first quarter of 2018. The reported figure was 3 cents higher than the year-ago figure. Also, earnings beat the Zacks Consensus Estimate of 41 cents per share.
The company identified an incremental $11.5 billion of costs and efficiency opportunities. It expects adjusted EBIT margin of 8% by 2020, two years earlier than the previous target. It also intends to lower cumulative capital spending by $5 billion between 2019 and 2022.
First-quarter net income was $1.7 billion, reflecting an increase of $0.1 billion from the year-ago quarter.
During the reported quarter, Ford logged automotive revenues of $39 billion, up from the prior-year figure of $36.5 billion. Its Zacks Consensuses Estimate for revenues was $37 billion. Ford carries a Zacks Rank #3.
Performance
Last week, Toyota Motor Corporation (NYSE:TM) reported the maximum increase. Tesla, Inc. (NASDAQ:TSLA) recorded maximum decline in price.
In the past six months, the maximum rise was recorded by Advance Auto Parts, Inc. while General Motors (NYSE:GM) Company’s shares declined the most.
| Company | Last Week | Last 6 Months |
| GM | -2.1% | -14.6% |
| F | -0.6% | -7.9% |
| TSLA | -4.3% | -12.5% |
| TM | 1.6% | 5.5% |
| HMC | -0.1% | 11.9% |
| HOG | 1% | -11.5% |
| AAP | 0.4% | 31.6% |
| AZO | 0.3% | 4.7% |
What’s Next in the Auto Space?
Watch out for the usual news releases of other auto companies over the next week. Also, look for the earnings releases of some important auto companies.
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