Ford Motor Co. F is one of the leading global auto manufacturers and auto financial services providers. The company’s product line boasts of heavyweights such as the legendary Ford Mustang and the F-Series truck, which has been the highest-selling vehicle in the U.S. for the last 34 years. It also owns the luxury vehicle brand, Lincoln. Ford is gaining from itsproduct launches, global expansion, efficient capital deployment and success of the One Ford plan. The company is renewing the majority of its product line-up and has planned several vehicle launches under the One Ford plan, which is helping boost sales. However, weakness in South America as well as frequent product recalls and rising structural expenses are some concerns. As a result, investors have been eagerly awaiting Ford’s latest earnings report. Let’s take a quick look at this Michigan-based automobile giant’s first-quarter release. Estimate Trend & Surprise History Investors should note that the earnings estimate for Ford for the first quarter inched down by 1 cent in the past 7 days. However, the automaker has beaten the Zacks Consensus Estimate in 2 of the trailing 4 quarters and missed in one quarter, with an average beat of around 11.17%. Zacks Rank Ford currently has a Zacks Rank #3 (Hold), but that could change following its earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below: Earnings Beat Estimates Ford raked in adjusted earnings of 68 cents per share that comfortably surpassed the Zacks Consensus Estimate of 43 cents. Moreover, adjusted earnings were 39 cents higher than the year-ago quarter. Revenues Surpass Estimates Ford logged revenues of $37.7 billion, surpassing the Zacks Consensus Estimate of $36.10 billion. Revenues were also $3.8 billion higher than a year-ago. Key Stats/Developments to Note Ford reported a 152,000 unit increase in wholesale volumes to 1.72 million in the first quarter. Ford anticipates 2016 pre-tax profit, earnings per share, automotive revenue and automotive operating margin to be equal to or higher than 2015 levels. The company also anticipates recording strong automotive operating-related cash flow, albeit below 2015 levels. Market Reaction Ford’s shares have gained 2.49% so far, following the release. Clearly, the initial reaction to the release is positive. Check back later for our full write up on Ford’s earnings report! Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report FORD MOTOR CO (F): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research