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Ford Motor Company, Sirius XM Holdings Inc. Miss Earnings Estimates

Ford and Sirius XM released the earnings reports from their first fiscal quarters before opening bell this morning. Ford reported earnings of 23 cents per share, excluding items, on $33.9 billion in revenue. Analysts had been looking for earnings of 26 cents per share on $33.9 billion in revenue for the first quarter. In the same quarter a year ago, Ford’s earnings were 25 cents per share.

Sirius XM posted earnings of 2 cents per share on $1.08 billion in revenue, an 8% year over year increase. Analysts had been looking for 3 cents per share in earnings and $1.09 billion in revenue for the quarter.

Ford Motor Company, Sirius XM Holdings Inc. Miss Earnings Estimates

Key metrics from Ford’s earnings report

Ford reported pretax profits of $1.4 billion, a $24 million year over year increase. North America revenues were $20 billion, while operating margin for the region was 6.7%. In South America, Ford saw a negative operating margin of 12.5% and $1.5 billion in revenues. In Europe, Ford posted 6.9 billion in revenue and an operating margin of -2.7%.

The automaker’s Middle East and Africa division recorded $1.1 billion in revenue and an operating margin of 7.5%, while its Asia Pacific segment recorded $2.3 billion in revenue with a 4.5% operating margin. Ford Credit saw $483 million in pretax profits.

The automaker also reconfirmed its profit guidance of between $8.5 billion and $9.5 billion for the full year. Management also expects to improve the company’s operating margin in North America to between 8.5% and 9.5%. However, they cut their profit guidance for South America due to the “external environment.”

Key metrics from Sirius XM’s earnings report

Sirius XM recorded adjusted EBITDA of $399 million, a 19% increase from last year. The satellite radio provided reported 431,000 net new subscribers, a 61% yar over year increase. Self-pay net adds were 394,000, compared to 173,000 in the same quarter last year.

Management also upped guidance for both revenue and subscribers. They now expect to see about $4.7 billion in revenue and 1.4 million net subscriber additions.