Ford Motor Company reported better than expected Q2 earnings and reaffirmed its profit outlook for the year, but said management is "actively looking" at how to offset surging costs.
In an interview with Haris Anwar, senior analyst at Investing.com, he said: "The latest earnings report is certainly better than what the market was expecting. From the Q2 numbers, it’s clear that sales of the company’s popular SUVS and crossovers are showing some strength after dealing with persistent supply-chain issues and semiconductor shortages.
"That said, it’s not clear whether one quarter results can be seen as a solid turnaround for the carmaker, especially when the macroeconomic environment is becoming hostile and consumers are looking to curb their spending.
"Automakers, in my view, are operating during a highly uncertain economic environment and it’s tough to predict what lies ahead for their sales and general consumer demand."
Ford said revenue for the quarter jumped to $40 billion, up sharply from $26.8 billion a year ago when supply-chain problems slashed production.