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Ford Delivers $1.6 Bil Q1 Profit with Strongest North American Earnings in Over a Decade

But maker was hammered by problems in Europe.

by on Apr.24, 2013

CEO Alan Mulally and Chairman Bill Ford.

Ford Motor Co. topped Wall Street’s already optimistic earnings estimate with a 16% jump in first-quarter net income of $1.6 billion, or 40 cents per share.

That compared to last year’s 35-cent earnings and a 37-cent consensus estimate for the latest quarter among analysts polled by FactSet. The maker would have done still better were it not for problems in Europe which resulted in a $147 million decline in pre-tax earnings of $2.1 billion. But Ford’s results also were buoyed by the strongest results in North America in “at least” a decade.

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“Our strong first quarter results provide further proof that our One Ford plan continues to deliver,” said Alan Mulally, Ford president and CEO. “Our plan remains centered on serving customers in all markets around the world with a full family of vehicles — small, medium and large; cars, utilities and trucks — each with the very best quality, fuel efficiency, safety, smart design and value.”

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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 Earnings Exceed Expectations

Increase aided by improvements in Europe, North America.

by on Apr.26, 2011

"World cars," like the Fiesta, helped drive Ford earnings beyond analysts' expectations.

After disappointing analysts during the final months of 2010, Ford Motor Co. has delivered another surprise – but this time it has well exceeded even the more optimistic forecasts for the first quarter of the New Year, posting $2.6 billion in net income.

That’s a 22.4% year-over-year bump, and works out to 61 cents a share compared to a consensus forecast by a score of Wall Street analysts that Ford’s first-quarter 2011 earnings would come in at a still-respectable 50 cents a share.  During the same period in 2010, Ford earned $2.1 billion, or 46 cents a share.

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All told, the maker had its largest earnings for the January – March quarter since 1998.

“Our team delivered a great quarter, with solid growth and improvements in all regions,” said Ford president and CEO Alan Mulally.

Ford’s revenues jumped 18% in the latest quarter, from $28.1 billion to $33.1 billion.  That reflected strong sales in a number of key markets, notably including Europe, where the maker was able to climb out of the red.

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