The Numbers are In: Ford is Profitable

[Kymerik]

NEW YORK (CNNMoney.com) -- Ford on Tuesday reported a huge turnaround to a profit in the first quarter, thanks to strong sales of new products around the world.

Ford Motor Co (F, Fortune 500)., the iconic auto and truck maker based in Dearborn, Mich., said that net profit totaled $2.1 billion in the first quarter, with earnings of 50 cents per share, beating analyst forecasts.

The numbers bore little resemblance to a year earlier, when Ford reported a loss of more than $1.4 billion, or a loss of 60 cents per share.

The company reported revenue of $28.1 billion, an increase of $3.7 billion from a year ago.

Analysts had expected Ford to report earnings of 31 cents per share on revenue of about $30.5 billion, according to consensus from Thomson Reuters.

The company said that strong sales of Fusion, F-150, Taurus and Focus cars and trucks helped it bump up U.S. market share by 2.7% in the first quarter to 16.6%.

"Our plan is working and the basic engine that drives our results -- products, market share, revenue and cost structure - is performing stronger each quarter, even as the economy and vehicle demand remain relatively soft," said Chief Executive Alan Mulally.

Ford also said it became the market leader in Canada and increased sales by 14% in South America, boosted by the record sale of 88,000 vehicles in Brazil. The company also increased sales in Europe, grabbing a 9.4% share of the European market.


Bill Ford: I work for free
Going forward, the company said that it expects to "deliver solid profits this year," based on its "improving performance" and "gradually strengthening economy."

Despite the strong performance, Ford stock slipped slightly in pre-market trading.

 

[skylar2ups]

This is great news for Ford, they seem to have got their eggs in one basket and are running with them. Most people "educated" about cars can't deny that Ford's cars aren't worth looking at/buying.

 

[Kymerik]

eh, that'll become more evident when the new focus and the fiesta are unleashed upon these shores.

 

[skylar2ups]

eh, that'll become more evident when the new focus and the fiesta are unleashed upon these shores.

Right like I said they got their s*** together, bringing the Fiesta and Focus was a smart move for many reasons, the Transit is selling like hot cakes here in the Orlando/Tampa area.

The new Fusion is an amazing car and being the best hybrid doesn't hurt either, the Taurus is taking on Acura, Audi, Lexus, and Infiniti somthing the 500 would have been rolled off a bridge for. (http://www.fordvehicles.com/2010taurus/)

Fords Active Park Assist is light years ahead of the Lexus technology and came out sooner then BMW's, When the C-Max arrives it too will prove to be a key player for the Blue Oval.

 

[Kymerik]

Ford's progress gets me a lil excited downstairs

Blue oval babeh!

 

[MazdaSpeeder]

epic win for Ford. This makes me happy. I just hope that along with what they're doing, they keep manual transmissions and affordable performance in the lineup (not just the Mustang). Good for Ford!

 

[jred321]

now where's the new bronco?

 

[BOOSTR]

And for me the best part of this is they did not take one dime of that bulls*** tarp money!

 

[MazdaSpeeder]

And for me the best part of this is they did not take one dime of that bulls*** tarp money!

QFT. Apparently GM's "payback" is just a move-around of some other funds they have from the gov't. They're not really much less indebted at all. It's all PR garbage.

 

[skylar2ups]

QFT. Apparently GM's "payback" is just a move-around of some other funds they have from the gov't. They're not really much less indebted at all. It's all PR garbage.

They used TARP money to repay 8.1 Billion a fraction of the 52 billion dollars they "borrowed."

"GM received $52 billion from the U.S. government and $9.5 billion from the Canadian and Ontario governments as it went through bankruptcy protection last year. At first, the entire amount of U.S. aid was considered a loan as the government tried to keep GM from going under and pulling the fragile economy into a depression.

During bankruptcy, the U.S. government reduced the loan portion to $6.7 billion and converted the rest into company stock, while the Canadian government held $1.4 billion in loans. Those loans were repaid Tuesday, five years ahead of schedule.

The stock they hold means the U.S. government owns 61 percent of GM, and Canada owns roughly 12 percent."

http://www.philly.com/inquirer/business/20100422_GM_repays_loans_to_U_S__and_Canada.html

***The comments are the best part.