DETROIT (Reuters) – Ford Motor Co (N:) on Wednesday reported a lower quarterly net profit, primarily due to charges related to the restructuring of the automaker’s units in Europe and South America.
The No. 2 U.S. automaker posted a second-quarter net profit of $148 million, or 4 cents per share, down from $1.1 billion, or 27 cents per share, a year earlier.
Excluding one-time charges, the company earned 28 cents per share. Analysts had expected Ford to earn 31 cents a share, according to IBES data from Refinitiv.
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