Ford reported first quarter operating earnings of $801m, up $160m over the same quarter last year. The company says that it expects this quarter to be the strongest quarter of the year due to seasonal factors and major product launches later this year. However, the company says it still expects to finish 2019 better than 2018.
Outside of North America, Ford is still losing money, but those losses are shrinking. Ford recently announced a restructuring plan for Europe that included over 6,000 layoffs.
Also in the earnings report, Ford revealed that the company is subject to a criminal investigation by the Justice Department due to its emissions certifications. We recently reported that Ford had launched its own internal investigation into its emissions certification process.
Ford's stock rose more than 6% in premarket trading.