Ford Motor Co. (F) shares advanced on Tuesday following General Motors Co.’s (GM) upward revision of its 2024 outlook. GM’s robust first-quarter earnings report and increased guidance ignited positive sentiment towards Ford’s impending financial disclosure.
GM’s financial results surpassed market expectations, leading to an adjustment of its adjusted earnings guidance to a range of $9 to $10 per share. The company also revised its adjusted automotive free cash flow guidance to a range of $8.5 billion to $10.5 billion.
These positive developments from GM have bolstered expectations for Ford’s upcoming earnings release on Wednesday. Analysts anticipate Ford to report earnings of 42 cents per share on revenue of $40.137 billion.
