Ford beat Wall Street expectations Thursday, driven in large part by cost reductions and strong sales in North America.
The company said it has been cost cutting across several departments. Costs were also comparably lower this quarter because Ford suffered a massive recall of its vehicles this time last year. Last year Ford had to recall almost 2.4 million vehicles spanning several models, such as the Mustang, Focus, and Lincoln MKC.
Ford tightened a full-year adjusted earnings per share guidance range of $1.75-$1.85, which is narrower than its prior range of $1.65-$1.85.