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Posts Tagged ‘Ford 3Q profits’

Ford Profits Rise 63 Percent in Third Quarter

Truck sales, cost cutting helps lead the way.

by on Oct.26, 2017

Ford CEO Jim Hackett said the company is getting itself in a better position for the future with its Q3 results.

This story has been updated with new information.

Ford enjoyed a strong third quarter, reporting a 63% rise in net income to $1.6 billion, or 39 cents per share, on revenue of $36.5 billion, largely on cost control measures and strong truck sales in North America.

The company’s operating profit for the third quarter was $2 billion or 43 cents per share, which was up 40% compared with year-ago period.

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“I want to smile with the results today because we’re going to build on this going forward,” said Ford CEO Jim Hackett during a conference call.  (more…)

Ford Profits Slump in Third Quarter

Automaker still on track for most profitable year ever.

by on Oct.27, 2016

Ford CEO Mark Fields described the company's outlook for the industry for this year as "realistic."

Ford Motor Co., whose executives predicted that the auto industry was facing challenges, saw its net income drop by 47% to $1.08 billion during the third quarter.

The third quarter is generally regarded as the toughest for automakers because they have to absorb the high cost of models change over. However, rival automakers, such as General Motors, Fiat Chrysler Automobiles N.V. and Daimler AG, have already reported their earnings increased during the third quarter.

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“This quarter we delivered key elements of our growth plan by fortifying our core business, with the launch of the all-new Super Duty pickup, transforming Lincoln with the new Continental and investing in emerging opportunities with the acquisition of the Chariot crowd sourced shuttle service. Importantly, we remain on track to deliver one of our best profit years ever,” noted Mark Fields, Ford’s chief executive officer. (more…)