Exploitation of children or contamination of water has no place here or in the countries where imported products originate
Vienna (OTS) – “With the Supply Chain Act, we are ushering in a new era: We are ensuring that companies take a close look at their supply chain with regard to environmental and social standards,” says Elisabeth Götze, business spokeswoman for the Green Party, and continues: “Exploitation of children or contamination There is no place for water here or in the countries of origin of imported products.”
After long negotiations, the tug of war over a European supply chain law finally came to a good end today, Wednesday.
Götze continues: “At the same time, we are creating a ‘level playing field’ for all companies that already voluntarily adhere to the strict standards. In this way, we create fair competitive conditions for everyone who wants to do business on the European market. In any case, we will work to ensure that the rules are easy to use for small businesses too.”
The EU Supply Chain Act with corresponding transitional provisions is set to apply from 2027.
Questions & Contact:
Green Club in Parliament +43-1 40110-6317 presse@gruene.at
Navigating Ford’s Electric Vehicle Impact on Q1 2024 Earnings: Pro Emerges as the Unexpected Contender
Following a strategic shift, Ford (F) announced its first-quarter earnings on Wednesday, surpassing analyst predictions. Nevertheless, Ford's electric vehicle (EV) revenue plummeted by 84% in Q1 2024 due to intense pricing competition.
Ford's Evolving EV Strategy Amid Sales Growth
Despite a remarkable 86% surge in EV sales to 20,233 units in the first quarter of 2024, Ford is reevaluating its approach. All Ford electric models experienced substantial sales growth in double or triple digits.
The F-150 Lightning retained its position as the leading electric pickup in the US, with 7,743 units sold, marking an 80% increase from the previous year. Ford's Mustang Mach-E emerged as the second best-selling electric SUV in the US, delivering 9,589 vehicles, a 77% rise from Q1 2023.
Simultaneously, Ford's commercial Pro division continues to be a surprise performer for the company, with a 40% uptick in EV adoption. Q1 saw a 148% increase in Ford E-Transit sales, totaling 2,891 units.
Ford's growth propelled it to the second spot in the US EV market, excluding combined Hyundai and Kia sales.
The surge in sales followed Ford's introduction of significant price reductions and discounts on the Mach-E and Lightning earlier this year.
Ford Mustang Mach-E (Source: Ford)
Despite the uptick in EV sales, Ford revealed a delay in EV production at its BlueOval City plant until 2026. The launch of its three-row electric SUV has also been postponed to prioritize smaller, more cost-effective EVs.
Meanwhile, Ford announced plans to introduce more hybrid models while developing its next-generation electric vehicles.
All-electric Ford Explorer (Source: Ford)
Ford's Model e EV
Ford's Financial Performance in Q1 2024
In the previous year, Ford’s EV unit experienced a significant net loss of approximately $4.7 billion, attributed to intense competition in the market and increased investments. On the other hand, the EBIT loss for the company decreased to $1.6 billion in the fourth quarter.
Revenue Expectations for Q1 2024
Industry analysts anticipate that Ford will announce revenue of $40.10 billion in its first-quarter 2024 earnings report. The Model e, Ford’s electric vehicle division, is projected to contribute around $24.5 billion in revenue, despite incurring an EBIT loss of $1.65 billion.
Key Highlights from Ford’s Q1 2024 Earnings Report
According to Ford’s official press release, the company’s revenue for the first quarter of 2024 increased by 3% to $42.8 billion, surpassing the estimated $40.10 billion. Additionally, Ford exceeded expectations for adjusted earnings per share (EPS) by reporting $0.49 per share compared to the anticipated $0.42.
Despite these positive results, Ford’s net income declined to $1.3 billion from $1.8 billion in the previous year. The adjusted EBIT also saw an 18% decrease to $2.8 billion due to lower pricing strategies and delays in the F-150 launch.
(Source: Ford)
While Ford Blue, the traditional internal combustion engine (ICE) business, experienced a 13% decline in revenue due to the recent F-150 launch, Ford Pro emerged as a growth catalyst. The commercial and software segment witnessed a 21% increase in volume and a 36% rise in revenue, achieving an impressive EBIT margin of nearly 17% and generating $18 billion in revenue for the first quarter.
(Source: Ford)
On the other hand, Ford Model e faced an 84% decline in revenue due to widespread pricing pressures across the industry. This led to an increased EBIT loss of $1.3 billion year-over-year, translating to approximately $64,000 loss per EV sold in the first quarter. Despite these challenges, the EBIT loss improved from $1.6 billion in the fourth quarter of 2023.
Looking ahead, Ford anticipates enhancements in EV costs, although these improvements may be counteracted by continued pressure on the top-line performance.
(Source: Ford)
Ford Maintains Full-Year EBIT Guidance
Ford, the automaker, is sticking to its full-year EBIT guidance and is optimistic about reaching the higher end of the $10 billion to $12 billion range. The company has adjusted its expectations for adjusted free cash flow, now anticipating to generate between $6.5 billion and $7.5 billion, an increase from the previous $6 billion to $7 billion.
Cost-Cutting Actions and Strategy Shift
Recent cost-cutting measures, including delayed EV investments, have influenced Ford’s updates. This move aligns with the company’s strategy shift towards a more efficient operation. The decision to maintain guidance reflects Ford’s confidence in its ability to navigate the current market challenges.
Rival GM’s Influence
Ford’s decision to update its guidance comes shortly after rival GM also raised its full-year guidance. This trend indicates a positive outlook for the automotive industry as a whole, with major players like Ford and GM demonstrating resilience and adaptability in the face of changing market dynamics.
New Brand Campaign: “Freedom of Choice”
As part of its strategic realignment, Ford is launching a new brand campaign titled “Freedom of Choice.” This campaign aims to showcase Ford’s diverse lineup of gas, hybrid, and EV vehicles, emphasizing the company’s commitment to providing consumers with a range of options to suit their preferences and needs.
Taiwan stock market struggles to defend 20,000 points after sharp rebound
After a sharp rebound of 720 points in two days, the Taiwan stock market stopped at the highest point of 20,165 points This morning (25th), it fell back by more than 200 points, in a fight to defend the 20,000 point mark! Li Yongnian, a well-known stock market professor and deputy general manager of Qida Investment Consulting, said in an interview this morning (25th) that the bad financial reports of Facebook and IBM affected the Taiwan stock market, which opened low and fluctuated. tomorrow morning, there will be heavyweight financial reports from Microsoft, Google, and Intel, and the beginning of the The ability to absorb dips in low volatility is not strong, and today’s trading volume is estimated to be only 380 billion yuan, showing that bulls lack confidence. “Taiwanese stocks will need to consolidate for at least another day or two.”
Extended reading: 20,000 points are gone again! Taiwan stocks fell more than 200 points, TSMC fell 13 yuan
[Masnachu bore Yahoo]Can Taiwan’s stock market bounce back to 20,000 points to successfully defend the fight? Analyst Li Yongnian: Bulls lack confidence. File photo: Central News Agency
US stocks were mixed yesterday, Li Yongnian said, although the Philadelphia Semiconductor Index rose 1%, TSMC ADR fell 0.34%. Moreover, Taiwan Index futures fell more than 200 points in the night trading, which put heavy pressure on the opening of Taiwan stocks today (25th). enter the market at low prices For example, after the TSMC 770 was opened, it rebounded to 774 yuan and then fell The next step is to “observe whether the reception is strong enough?”
Today’s trading volume is estimated to be less than 390 billion yuan, and there is little willingness to buy at low prices.
Li Yongnian said that the trading volume for the whole day today is currently estimated to be less than 390 billion yuan, which shows that the willingness to take dips is not high and the confidence of bulls is relatively low. In this case, he believes that “the market still needs to consolidate for a while, at least about one or two days,” and there is a chance that it will continue to rebound.
Microsoft, Google, and Intel will release their financial reports tomorrow morning
However, he believes that the most important key at this time is to observe the US stock market Tomorrow, leading high-tech stocks including Microsoft, Google, Intel, etc. will announce financial results However, the morning here, including Facebook and IBM , the financial reports were not as expected, leading to heavy electronic trading of US stocks. Therefore, he first suggested observing the performance of US high-tech stocks tomorrow’s earnings report half the week will be more difficult.
What are the indicator stocks today? Li Yongnian suggested that we should continue to look at electronic equity stocks such as TSMC and Hon Hai The performance of the construction stocks that got rest in the previous two days was not bad today, which is worth noting.
How do investors operate?
Li Yongnian analyzed that, from a technical point of view, the obvious upward pressure on the Taiwan Stock Weighted Index falls on the 10-day line and the monthly line, which is approximately between 200 million and 20,200 points The pressure in this area the low end support point is heavier, let’s look at yesterday’s market first Can it be supported near the mid-low point of 19770? He suggested that investors should not rush to buy but wait and see first. It will be safer, but the amplitude of the shock is too big If you want to interfere, it is safer to connect low and don’t go after the high.
META, the parent company of Facebook, announced its first quarter results early this morning Although it exceeded expectations, the report predicted an increase in AI research and development spending In addition, the virtual product business continues to suffering losses worried that the expenditure will be huge and the expenditure even more next year. META expects full-year capital expenditure to be between US$35 billion and US$40 billion, up from the previously expected US$30 billion to US$37 billion in the same period last year. After the market opened, the stock price plunged 19% or close to US$100, reaching a low of US$399.02, falling below the US$400 mark.
IBM’s first quarter financial report was also disappointing, with revenue of US $ 14.46 billion, an annual increase of only 1%, lower than the US $ 14.55 billion expected by the outside world The demand for its second largest consulting business remains slow also announces that it will spend 6.4 billion It acquires cloud software company HashiCorp with US dollars After the financial report was released, the stock price fell 8.5% after Hours.
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Yahoo Finance special correspondent Ye Yiru: With more than 20 years of experience in the mainstream financial media, from the Web1.0 bubble in 2000 to the Meta Yuanverse Web3.0, he has seen the rise and fall of Taiwan’s large and small business groups, and has experienced five international financial groups crises. We believe that finance is life and everywhere No matter how difficult financial information is, we should explain it in a simple way. Everyone, young and old, should manage money If you don’t manage money, money won’t worry about you.