Detroit Bureau on Twitter

Posts Tagged ‘ford third quarter’

Ford Net Income Drops 22 Percent for Third Quarter

Restructuring charges, European losses offset strong North America vehicle sales.

by on Oct.24, 2013

Despite strong vehicle sales, Ford reported a drop in third quarter earnings of 22% to $1.3 billion.

Strong vehicles sales in North America had Ford Motor Co. poised for a record-setting third quarter profit, but they were offset by losses in Europe and restructuring charges, the company reported.

Ford’s net income dropped 22% to $1.3 billion or 31 cents per share after special charges of nearly $498 million due to restructuring in Europe and North America and a loss by the company’s European operations.

Fuel Your Automotive Knowledge!

The automaker reported a record third quarter 2013 pre-tax profit of $2.6 billion, which was $426 million higher than a year ago. The increase reflects continued strong performance in North America and a combined profit from the regions outside North America. In addition, Ford Credit remained profitable. (more…)

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.

A Profitable News Source!

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.