Ford: Big Q1 losess expected and “we have cash till the end of Q3.” – Idaho Reporter

Automotive, NYSE

Ford: Big Q1 losess expected and “we have cash till the end of Q3.”

Ford Motor Co (NYSE: F) said on Monday it expects Q1 adjusted loss before interest and taxes to be about $600M, compared with a profit of $2.4 billion in2019.

According to CFO Tim Stone, Ford have enough cash for the next 6 months or so:

“We believe we have sufficient cash today to get us through at least the end of the third quarter with no incremental vehicle production and wholesales or financing actions.”

The company said it expects to report revenue of about $34 billion for the quarter.

As of April 9, Ford had about $30 billion in cash on its balance sheet, including $15.4 billion of proceeds from borrowings last month against two existing credit lines

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