Ford just reported a massive loss on every electric vehicle it sold [Yahoo! Finance]
Ecolab Inc. (ECL)
Last ecolab inc. earnings: 4/28 08:30 am
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Source: Yahoo! Finance
in the first three months of the year, helping to drag down earnings for the company overall. Ford, like most automakers, has announced plans to shift from traditional gas-powered vehicles to EVs in coming years. But it is the only traditional automaker to break out results of its retail EV sales. And the results it reported Wednesday show another sign of the profit pressures on the EV business at Ford and other automakers. The EV unit, which Ford calls Model e, sold 10,000 vehicles in the quarter, down 20% from the number it sold a year earlier. And its revenue plunged 84% to about $100 million, which Ford attributed mostly to price cuts for EVs across the industry. That resulted in the $1.3 billion loss before interest and taxes (EBIT), and the massive per-vehicle loss in the Model e unit. A price war among EVs for about a year and a half has made profitability very difficult said Ford CFO John Lawler. He said while Ford has removed about $5,000 in cost on each Mustang Mach-E,
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ECL
News
- Results: Ecolab Inc. Exceeded Expectations And The Consensus Has Updated Its Estimates [Yahoo! Finance]Yahoo! Finance
- Ecolab Annual Meeting Results AnnouncedBusiness Wire
- Ecolab Inc. (NYSE:ECL) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Ecolab Declares Cash DividendBusiness Wire
- Ecolab First Quarter 2024 Earnings: EPS Beats Expectations [Yahoo! Finance]Yahoo! Finance
ECL
Earnings
- 4/30/24 - Beat
ECL
Sec Filings
- 5/2/24 - Form 144
- 5/2/24 - Form 10-Q
- 4/30/24 - Form 8-K
- ECL's page on the SEC website