Ford Motor Company – F – Delivered best-ever third quarter
NYSE:F) as it reports quarterly results.
The company reported a pre-tax profit of $2.2 billion, or 40 cents per share, and net income of $1.6 billion, or 41 cents per share. The company also continued to generate positive Automotive operating-related cash flow, and ended the period with a strong liquidity position of $34.4 billion, an increase of $500 million from the second quarter.
“The Ford team delivered a best-ever third quarter, driven by record results in North America and the continued strength of Ford Credit,” said Alan Mulally, Ford president and CEO. “While we are facing nearterm challenges in Europe, we are fully committed to transforming our business in Europe by moving decisively to match production to demand, improve revenue through new products and a stronger brand, improve our cost efficiencies and take advantage of opportunities to profitably grow our business.”
Ford Earns Record Third Quarter 2012 Pre-Tax Operating Profit of $2.2 Billion, Net Income of $1.6 Billion
Best-ever third quarter total company and Automotive pre-tax profit, driven by record North American results; positive Automotive operating-related cash flow; strong liquidity of $34.4 billion
- Ford (F) – Third quarter pre-tax profit of $2.2 billion, or 40 cents per share, an increase of $200 million from third quarter 2011. Ford has now posted a pre-tax profit for 13 consecutive quarters
- Ford (F) Third quarter net income, including favorable special items of $83 million, was $1.6 billion, or 41 cents per share, both about the same as third quarter 2011
- Total Automotive pre-tax profit was $1.8 billion, an increase of $436 million from third quarter 2011
- Ford North America achieved its highest quarterly profit and operating margin since at least 2000 when the company started reflecting the region as a separate business unit, with third quarter pre-tax profit of $2.3 billion and a 12 percent operating margin
- Ford Credit reported a pre-tax profit of $393 million, a decrease of $188 million from third quarter 2011, in line with expectations
- Announced comprehensive transformation plan to restore profitability in Europe by mid-decade
- For the full year, Ford (F) continues to project strong total company pre-tax profit and positive Automotive operating-related cash flow
About Ford Motor Company – F
Ford Motor Company (F), a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles across six continents. With about 172,000 employees and 65 plants worldwide, the company’s automotive brands include Ford and Lincoln. The company provides financial services through Ford Motor Credit Company.
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Post Written By: Ed Liston
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.
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