Link here for MDU. Huge report.
- earnings increased by 23% in 2019
- earnings: $335.5 million
- $1.69/share
- 2018
- $272.3 million
- $1.39/share
- 4Q19 vs 4Q18:
- $95.1 million vs $78.8 million
- 47 cents/share vs 40 cents/share
- forecast: 39 cents/share
- guidance
- initiating per share guidance in range of $1.65 - $1.85
FORD tanks: down 11% after earnings reports came out; operating income falls by two-thirds; auto make cites lower production volumes in North America;
- adjusted EPS: 12 cents vs 15 - 17 cents
- revenue: 39.7 billion vs $36.3 - $36.49 billion forecast
- issues lower 2020 outlook
- 94 cents to $1.20 vs $1.31 estimate
- admitted execution issues in the US tied to the new Explorer SUV
- company's sales fell 5% from the prior year
- free cash flow decreased to $500 million from $1.5 billion
- sales dropped in all geographic regions
- comment: pivot to EVs is going to be problematic
- comment: the linked article at The WSJ is very, very troublesome; this paragraph stood out: Under the CEO, Mr. Hackett, Ford has pursued futuristic initiatives, such as testing driverless pizza delivery and an all-electric SUV version of the Mustang muscle car. But it has also been consumed by present-day problems that have weighed on earnings.
- Ford also invested in a "scooter" company; $100 million for Spin;
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