Investing.com - The largest U.S. automaker Ford Motor Company (NYSE:F) reported worse-than-expected first quarter earnings and revenue figures, it announced ahead of Tuesday’s opening bell, sending its shares lower in pre-market trade.
Ford said adjusted earnings per share came in at $0.23 cents, below expectations for earnings of $0.26 cents per share.
The company’s first quarter revenue totaled $33.9 billion, just below forecasts for sales of $34.0 billion.
Wholesale volume and company revenue decreased due to major product launches and the impact of the strong U.S. dollar on international revenue.
The automaker maintained its full-year forecast of pretax profit of between $8.5 billion and $9.5 billion.
Following the release of the report, shares in Ford fell 3.14% in pre-market trade to $15.40 from a closing price of $15.90 on Monday.
Meanwhile, U.S. stock futures pointed to a mildly lower open. The Dow futures indicated a loss of 0.4% at the open, the S&P 500 futures pointed to a drop of 0.35%, while Nasdaq 100 futures declined 0.15%.