Ford CEO jim hackett

Ford posted weaker Q4 2017 results than expected.
CEO Jim Hackett was challenged on his plan to return Ford to fitness.
Wall Street has watched Tesla post awful earnings while telling a compelling growth story — and it wants the rest of the industry to follow that example.

Wall Street wants Ford to start telling a new story — desperately.

Wednesday brought a triple whammy on fourth-quarter and full-year 2017 earnings for the carmaker: a miss on analysts expectations for the quarter, a restatement of lower earnings expectations for 2018, and a profit margin for 2017 of just 5%.

The stock slipped in after-hours trading, but not by much, suggesting that investors had digested the disappointment. Ford shares were already lagging the broader markets and its peers, so there wasn’t much justification for a sell-off.

On a conference call with analysts after the results were announced, CEO Jim Hackett — he took over from Mark Fields in mid-2017 — talked with analysts about the details of six key initiatives that he intends to use to redesign Ford’s business for a higher level of what he’s termed “fitness.”

Morgan Stanley’s Adam Jonas, who has a bearish outlook on Ford’s stock with price target of $10 (the …read more

Source:: Businessinsider – Technology

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