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Ford Motor Co. Sets Records, Beats Earnings Forecasts

Few clouds on the immediate horizon.

by on Jul.28, 2015

Ford hopes to drive revenues even higher with the new Limited version of its F-150 pickup.

Just about any way you look at it, the second quarter was a good one for Ford Motor Co., the second-largest domestic automaker not only handily beating Wall Street analysts’ forecasts but delivering record numbers in North America and Asia/Pacific.

Even Europe came close to breaking even after years of heavy losses, noted Ford President and CEO Mark Fields. All told, the maker delivered net income of $1.9 billion per share, a 44% or $544 million year-over-year rise. On a per-share basis, Ford made 47 cents. That was up seven cents per share compared to the second-quarter of 2014 – and 10 cents more than the Wall Street consensus forecast.

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“We delivered an outstanding second quarter, a great first half of 2015, and we are confident the second half of the year will be even stronger,” declared Fields in a prepared statement accompanying the earnings report. “The entire Ford team is focused on accelerating our One Ford plan, delivering product excellence and driving innovation in every part of our business.”

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Ford Posts $1.3 Billion Profit in 2Q

Strong North American sales bolsters quarterly results.

by on Jul.24, 2014

Ford reported net income of $1.3 billion for the second quarter this year. Much of that came from strong results in North America.

Ford Motor Co. posted net income of $1.3 billion in the second quarter due in large measure to strong results in North America. Additionally, the company turned a profit in Europe for the first time in three year and Asia Pacific sales remained strong.

However, South America continues to be a drag on the company’s results. Ford Chief Executive Officer Mark Fields said the company had a very good second quarter and the company was looking forward to a series of major launches not only in North America but also in Europe.

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“To put in perspective, we are in a growth mode,” Fields said during a conference call with reporters and analysts. (more…)

Ford Likely to Show Record North American Profit

But Europe still an anchor.

by on Apr.24, 2013

Ford Chief Operating Officer Mark Fields will have to show that the changes he made in the Americas can translate overseas.

It’s likely to be both the best of times and worst of times for Ford Motor Co. as it reports its first-quarter earnings today.

Industry analysts are uniformly anticipating the second-largest domestic automaker will report record pre-tax profits for North America – but continue to linger deep in the red in a European market that has plunged to its lowest levels in nearly two decades, with little near-term upside potential.

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The troubles in Europe, as well as an anticipated loss in South America, should cut 37 cents out of the maker’s operating profit, according to a poll by the Bloomberg news service of 17 automotive analysts. Nonetheless, Ford should deliver a strong overall report, according to most, with pre-tax earnings in North America expected to come in at $2.7 billion, according to both JPMorgan Chase and Morgan Stanley.

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Ford Delivers $1.6 Bil Profit Despite European Slump

Maker tops Wall Street forecast.

by on Oct.30, 2012

Ford CEO Alan Mulally hails the maker's best-ever third quarter -- despite ongoing problems in Europe.

Despite a European slump likely to cost it more than $1.5 billion in red ink this year, Ford handily topped Wall Street forecasts with a $2.2 billion pre-tax operating profit and $1.63 billion in net earnings.

The after-tax figure was a whisker short of the $1.65 billion earned during the third quarter of 2011 and nearly matches the $1.94 billion Ford reported in net earnings for all of last year.

The maker scored better than expected despite taking a few serious hits, including heavier than expected losses in Europe and a series of reports that faulted Ford’s recent quality.  The Detroit maker took a particularly sharp fall in the latest Consumer Reports automotive reliability index, released yesterday.

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Nonetheless, CEO Alan Mulally put an understandably positive spin on the third-quarter news. “”The Ford team delivered a best-ever third quarter, driven by record results in North America and the continued strength of Ford Credit,” proclaimed the former Boeing executive.

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Ford Q1 Earnings Tumble

Maker blames higher taxes, lower European, Chinese sales.

by on Apr.27, 2012

Ford earnings tumbled sharply, driven in large part by declining demand in Europe. The Ford Evos concept is shown here during its Frankfurt Motor Show preview.

Ford Motor Co. saw its first quarter net income plunged 45% compared to a year ago to $1.4 billion, or 35 cents a share, the maker blaming higher taxes and lower European and Chinese sales for the sharp slide. But North American results were their best in over a decade.

The maker meanwhile announced plans to offer lump-sum buyouts to as many as 90,000 of its former employees, especially white-collar workers, in a bid to reduce its pension costs.

It’s unclear whether the weak first quarter will impact Ford’s efforts to improve its credit rating.  The maker received a significant boost from Fitch Ratings, earlier this week, which returned the maker to investment grade.  But other agencies, including Standard and Poor’s and Moody’s have yet to weigh in.

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“Our team delivered a solid performance during the first quarter, with particularly strong results in North America, despite a challenging global external environment,” said Ford President and CEO Alan Mulally. “We remain focused on investing for future growth and developing outstanding products with segment-leading quality, fuel efficiency, safety, smart design and value.”

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