Ford Q3 Revenue Up 12%

Ford Motor Company (NYSE: F) reported on Thursday that fiscal third quarter net income fell 22% due pension and employee-buyout expenses; however, shares edged higher as the automobile maker posted a record third quarter operating profit and a revenue growth of 12%, underpinning the fact that its operations are improving across the globe.

The automobile maker said posted a pretax profit of $2.6 billion or 45 cents a share while analysts polled by Thomson Reuters had expected 38 cents a share.

Ford also lifted its outlook on multiple metrics such as operating margin, the sales-volume in China, results in Europe and South America and full-year operating profit.

For the latest period, Ford reported an operating profit of $1.683 per vehicle. The automobile maker now anticipates surpassing its pretax operating profit of $8 billion, posted in the fiscal year 2012.

Revenue climbed 12% to $36 billion while pretax operating profit came in at $2.6 billion or 45 cents a share, beating analysts’ consensus estimate of 38 cents a share, according to a poll conducted by Thomson Reuters.

For the quarter, the company’s onetime charges totaled $581 million, which included employee buyout costs and pension buyouts.

Commenting over the results, Ford’s Chief Financial Officer, Bob Shanks said in a conference call,  “It’s a really, really great quarter. Especially in growth. We think we are starting to see it in Asia-Pacific where more of the top line growth is flowing to the bottom line. Europe is making great progress and clearly get us to a profit by 2015.”

 

edliston

edliston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.