-- 独立研究机构CFRA向提供了以下研究报告。CFRA分析师的观点总结如下： 福特汽车(F)公布的第一季度调整后每股收益为0.66美元，高于预期的0.14美元，远超市场普遍预期的0.19美元。业绩超预期主要得益于强劲的销售额和利润率，汽车业务收入增长6.4%至398.2亿美元（超出市场预期10亿美元），调整后息税前利润率提升560个基点至8.1%。业绩中包含13亿美元的一次性《国际紧急经济权力法案》(IEEPA)关税优惠，该优惠反映了2025年3月至2026年2月期间的缴税金额。福特将全年调整后息税前利润预期从80亿至100亿美元上调至85亿至105亿美元，其中值远高于市场普遍预期的88.7亿美元。福特汽车对2026年调整后自由现金流和资本支出的预期分别维持在50亿至60亿美元和95亿至105亿美元不变。受业绩超预期和上调预期提振，福特股价在盘后交易中一度大幅上涨，但随后迅速回落。原因是市场质疑，鉴于13亿美元的国际紧急经济伙伴关系协定（IEEPA）关税优惠，福特为何没有更大幅度地上调全年盈利预期。这似乎主要是因为该公司预计2026年大宗商品成本将面临更大的上涨压力（约20亿美元）。
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