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Ford Posts Profit, Operating Margin Records

“Essentially everything has improved,” says CFO Shanks.

by on Apr.28, 2016

Ford CEO Mark Fields has been trying to shift Ford to focus on broader "mobility" opportunities.

Ford handily outperformed expectations as it delivered record net profits and operating income for the first quarter of the year on Thursday.

Net income jumped 113% to $2.45 billion for the January-to-March quarter, or 61 cents a diluted share. A year ago, Ford’s net totaled $1.3 billion, or 29 cents a share. Excluding one-time items, Ford earned 68 cents a share compared to a Wall Street forecast averaging 48 cents.

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“Essentially everything has improved,” said Ford Chief Financial Officer Bob Shanks, who also said Ford expects 2016 overall to meet or exceed the company’s strong performance last year.


Ford Expects Record Profits; GM Sees Own Earnings Growth

Makers increase returns to shareholders; GM boosts stock buyback program.

by on Jan.13, 2016

Ford CEO Mark Fields showing off a new piece of technology at CES last week.

Investors take notice: while the stock market hasn’t been kind to the auto industry in recent weeks – or just about anyone else, for that matter – Detroit’s two largest carmakers are making some upbeat projections for 2016 that could make nervous shareholders happy.

Ford Motor Co. now expects to close the books on 2015 with a record pre-tax profit, with 2016 numbers to be “equal to or higher.” And GM is boosting its own earnings outlook for 2016. Both companies now plan to up their cash payouts to shareholders, while GM is expanding its ongoing stock buyback program.


“This pattern of strong returns gives us a great platform to build on as we enter the year with a focus on strengthening our core business and engaging aggressively in emerging opportunities through Ford Smart Mobility,” said Ford CEO Mark Fields, in a statement detailing Ford’s forecast.


Ford Finds Way to Boost Bottom Line by $1.5 Billion

Ford Europe now shows black ink after a decade in the red.

by on Jan.07, 2016

Ford's earnings may look better but its stock prices continues to slide.

In a move that will give the company’s bottom line an immediate, $1.5 billion boost, Ford Motor Company is changing its method for reporting pension and other post-retirement employee benefits.

The change will provide a clearer view of Ford’s operating performance and segment results, according to Bob Shanks, the maker’s chief financial officer. In addition, Ford’s 2015 pre-tax profit, excluding special items, is now expected to increase to somewhere between $10 billion and $11 billion when the company issues its yearly financial statement late this month.

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Ford retrospectively applied this change and revised prior quarterly results. For the first nine months of 2015, the maker now says it made $8.2 billion, compared to the originally reported $7 billion in net earnings. The changes were felt in a number of regions, perhaps most significantly in Europe which has been struggling to get back into the black for a decade. Instead of another loss for the first three quarters, Ford now says it earned $128 million there.


Ford Earnings Up 128% But Miss Wall Street Target

Investors wary despite strong numbers.

by on Oct.27, 2015

Ford's F-150 proved the heavy lifter, helping drive a triple-digit jump in Q3 net earnings.

(The story has been updated to revise the increase in pre-tax earnings.)

Ford Motor Co., riding high on North American demand for pickups and SUVs, saw pre-tax third-quarter profits more than double – but the maker nonetheless disappointed Wall Street by falling short of analysts’ expectations for even more.

Dearborn, Michigan-based Ford earned $2.7 billion before taxes, and 128% year-over-year increase. But net earnings were up an even more dramatic 129%, to $1.9 billion, or 48 cents per share compared with 27 cents during the third quarter of 2014.

By the Numbers!

“We’re on a really, really strong track,” declared Bob Shanks, Ford’s Chief Financial Officer. (more…)

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.

By the Numbers!

“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.”


Ford Sales, Earnings Fall Short for First Quarter

Detroit maker hurt by problems in Europe, slow U.S. rollout of F-150.

by on Apr.28, 2015

Ford CEO Mark Fields remains optimistic about the maker's expectations for all of 2015.

(This story has been updated with additional details on Ford’s Q1 earnings and full-year forecast.)

Hurt by weak sales in Europe, the slow ramp-up of its new F-150 pickup at home, as well as the strong dollars, Ford Motor Co. delivered a weaker-than-expected showing for the first quarter of 2015, earnings off 6.5%, to $924 million.

That worked out to just 23 cents a share, the Detroit maker reported, down from 25 cents a year ago. The consensus estimate on Wall Street was 26 cents per share, according to both Fact Set and Thomson Reuters. Revenues also fell short, at $31.8 billion, down from $33.9 billion a year ago.

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Nonetheless, CEO Mark Fields declared that 2015 will be a “breakthrough year,” adding in a statement that the first quarter, a good start to a year in which our results will grow progressively stronger as the new products we have been launching start to pay off.”


After Gloomy Forecast, Ford Earnings Narrowly Beat Expectations

But numbers still down sharply for Q3.

by on Oct.24, 2014

Ford CEO Mark Fields with the 2015 Edge, one of the models critical to turning around its earnings slump.

Ford’s third-quarter earnings report is a classic test of whether you want to view the glass as half-empty or half-full.

The maker recently warned that it would deliver a substantially lower profits due to problems in Europe and other markets, as well as having to cover the cost of a big recall. And, indeed, earnings for the July to September period plunged sharply, from $1.3 billion a year ago to just $835 million.

Earnings News!

The pre-tax profit, at $1.2 billion, was off from a year-earlier $2.6 billion. But at 24 cents a share, that nonetheless managed to beat the 19-cent consensus estimate, according to analysts polled by Thomson Reuters. (more…)

Ford Earnings Fall Nearly 40%

Maker puts blame on aggressive product launch plans.

by on Apr.25, 2014

Ford continued to deliver the bulk of its earnings from North America during the latest quarter.

Ford Motor Co. reported a 39% drop in earnings for the first quarter of 2014, dipping below analysts’ estimates at $989 million, or 24 cents a share.

But the maker downplayed the decline from a year-ago net profit of $1.6 billion, noting the heavy investments required as it prepares to launch 23 new models worldwide this year, its most aggressive product roll-out in half a century.

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Though the decline was slightly worse than expected, it took few by surprise, as Ford had signaled the likelihood 2014’s total would not match the $7.2 billion earned all last year. Nonetheless, the maker handily outdid its cross-town rival General Motors, which saw its own net profit plunge 85.5% for the first quarter, to just $125 million.


Both GM, Ford Expected to See Sharp Drop in Q1 Earnings

GM likely to take major hit as it pays for nearly 7 million recalls.

by on Apr.23, 2014

GM CEO Mary Barra will see a sharp decline in earnings for her first full quarter as CEO.

The numbers aren’t likely to look very good when General Motors and Ford Motor Co. release their first-quarter earnings results this week, both makers expected to post sharp declines from year-ago levels.

Ford had signaled a likely slide late last year as a result of the numerous new product launches it will have in 2014. But GM’s anticipated downturn is likely to be significantly greater than first forecast as a result of its on-going recall problems – an issue expected to continue to haunt new CEO Mary Barra for some time to come.

Breaking News!

A consensus of industry analysts forecasts GM will deliver a meager 9 cents per share in earnings for the first three months of 2014, and Brian Johnson, an automotive analyst with Barclays Plc is even more bearish, predicting the U.S. giant will go a penny into the red. Prior to the announcement of GM’s initial ignition switch recall in mid-February, Johnson was looking at a profit of 20 cents, which would still have been down sharply from the 67 cents per share it earnings during the first quarter of 2013.


Ford Projects Earnings Decline in 2014

Tough comparison after an extremely good 2013.

by on Dec.19, 2013

While the new Mustang could help Ford in the long-term, its launch next year will be costly.

Ford Motor Co. is warning its profits will likely fall next year even as it moves forward with ambitious plans to grow its business in the U.S., South America and Asia.

Ford’s shares fell 6.3% to $15.65 at the closing for the New York Stock Exchange on Wednesday after the company’s chief financial officer presented the new guidance for 2014 during a meeting in New York. It marked the steepest one-day decline of Ford shares in more than two years. The value of Ford common shares had increased by 21% this year – though that trailed the 27% gain for the Standard & Poor’s 500 Index.

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Ford estimated in the disclosure statement it will earn $7 billion to $8 billion in 2014 after an estimated $8.5 billion pretax profit for 2013. Ford executives said  last week the company will  introduce 23 new vehicles globally in 2014, more than double this year’s total, adding costs for equipment and marketing.