Posts Tagged ‘ford earns’

Ford Profit Sharing Checks Drop to Average of $6,900

Last year’s payout was a record $8,800.

by on Jan.29, 2015

Ford's hourly workforce will see their profit-sharing checks drop by nearly $2,000 this year.

Ford Motor Co. will continue to face major challenges in the first half of 2015, but the company’s executives expect better results for the full year after a disappointing 2014.

The company’s results fell in line with earlier guidance, but the net income of $3.2 billion for 2014 is down $4 billion from last year. The obvious hit resulting from the lower profits? Profit sharing checks for the company’s more than 50,000 hourly employees in the U.S.

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They are expected to collect an average of $6,900, which is nearly $2,000 less than last year’s record payout of $8,800 to 47,000 workers. That said, it’s an improvement over 2005 through 2008 when no profit sharing checks were issued. (more…)

Ford Takes Q4 Hit Due to F-Series Changeover

Maker reports profits in line with earlier guidance.

by on Jan.29, 2015

Ford reported pre-tax profits of more than $6 billion for 2014 led largely by North America.

Ford Motor Co.’s profits cratered during the fourth quarter as moved through the changeover of the company’s popular full-size pickup truck, dropping from 75 cents per share in the same period in 2013 to a single penny per share in the final three months of 2014.

The company’s fourth quarter pre-tax profit was $1.1 billion, excluding special items. That is $197 million lower than a year ago with after-tax earnings per share at 26 cents, 6 cents lower than a year ago.

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The net income for the quarter was $52 million: a decline of $3 billion from last year. Despite the decline, the fourth quarter of 2014 was the company’s 22nd consecutive quarter of profitability, Ford executives noted. (more…)

Ford Posts $1.3 Billion Profit in 2Q

Strong North American sales bolsters quarterly results.

by on Jul.24, 2014

Ford reported net income of $1.3 billion for the second quarter this year. Much of that came from strong results in North America.

Ford Motor Co. posted net income of $1.3 billion in the second quarter due in large measure to strong results in North America. Additionally, the company turned a profit in Europe for the first time in three year and Asia Pacific sales remained strong.

However, South America continues to be a drag on the company’s results. Ford Chief Executive Officer Mark Fields said the company had a very good second quarter and the company was looking forward to a series of major launches not only in North America but also in Europe.

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“To put in perspective, we are in a growth mode,” Fields said during a conference call with reporters and analysts. (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.

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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.


Ford Earnings Hint at Loss of Momentum

Net income up but operating profit fell for the fourth quarter.

by on Jan.27, 2012

Ford CEO Alan Mulally and Chairman Bill Ford.

Ford Motor Co.’s comeback slowed in the fourth quarter as a 21% decline in core automotive business drove down operating profits at a time when the overall U.S. auto industry was showing signs of renewed strength.

For the full year, the second largest of the Detroit automakers reported a pre-tax operating profit of $8.8 billion, an increase of $463 million from a year ago, as strong performances in North America and Ford Credit offset challenges in other parts of the world, the company said.  This marks the company’s third year in a row of improving annual operating profits.

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“We delivered strong results for the full year as we continued to serve our customers around the world with best-in-class vehicles and made progress toward our mid-decade goals,” said Alan Mulally, Ford president and CEO. “Despite the continued uncertainty in the external environment, the strength of our North American and Ford Credit operations allows us to continue to invest for future growth and develop outstanding products with segment-leading quality, fuel efficiency, safety, smart design and value,” he said.


Ford Posts $1.65 Bil Earnings for 3Q

Carmaker’s 10th consecutive quarter in the black.

by on Oct.26, 2011

Ford overcame some headwinds, according to CEO Alan Mulally, with its 3Q profit.

Barely a week after getting union approval for a new 4-year contract that should ultimately reduce its labor costs, Ford Motor Co. announced a $1.65 billion net profit, or 41 cents a share, for the third quarter of 2011.  It marks the Detroit carmaker’s tenth consecutive quarter in the black.

But the latest numbers marked a slight decline from year-ago earnings, which totaled $1.69 billion.  And the results for the July – September period were down even more sharply from the second quarter of this year, when Ford reported a $2.4 billion net profit.

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But Ford had previously signaled it might have a weaker quarter, reflecting not only the cost of launching new products but also the impact of rising commodity prices.

“We delivered solid results for the third quarter despite an uncertain business environment,” contended CEO Alan Mulally, in a prepared release.


Ford Profits Dip During Q2

Like Chrysler, Ford hit by one-time charges.

by on Jul.26, 2011

One-time charges, including the cost of abandoning the Mercury brand, hit Ford's bottom line.

Ford Motor Co. reported a slight drop in earnings for the second quarter as special, one-time charges – including the abandonment of the Mercury brand — hit the company’s earnings sheet.

Nevertheless, Ford still posted net income of $2.4 billion, or 59 cents per share, an 8% year-over-year decline of $201 million, or 2 cents per share, from second quarter 2010.  But the maker also posted a healthy 13% increase in revenues.

Without the one-time write-offs, Ford would have earned $2.9 billion, or 65 cents a share – slightly ahead of the consensus analyst forecast of 60 cents.

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It was notably the ninth consecutive quarterly profit by Ford, the only domestic automaker to avoid filing for bankruptcy protection during the auto industry’s deep downturn in 2009.  Chrysler, which also reported its second-quarter numbers today, said it went $370 million into the red as the result of one-time charges connected to the payoff of its government bailout loans.  (Click Here for more on Chrysler.)

“We delivered very good second quarter results while growing the business globally and serving more customers in every region,” said Alan Mulally, Ford president and CEO. “Despite an uncertain business environment, we further strengthened our balance sheet and continued to invest for the future.”


Ford Hammered By Investors Over $2 Bil Judgment

Ohio Court rules against maker in commercial truck class action suit.

by on Jun.13, 2011

Ford could be facing a $2 billion payout to its heavy truck dealers due to a verdict in a long-running lawsuit.

Ford Motor Co. is being hammered twice as the result of a judgment on a class action lawsuit filed by a group of commercial truck dealers.

An Ohio court has ruled that the automaker will have to pay $2 billion for allegedly failing to give all those dealers the same price concessions, over more than a decade, as required by their contract.  As many as 3,000 U.S. Ford dealers could stand to gain substantial reimbursements that include years of interest charges.

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In all, the verdict could cost the suburban Detroit maker as much as $2 billion, if the judgment stands – though Ford has vowed to appeal and believe it will be able to get the verdict set aside.  But nervous investors, who have already driven the stock down sharply since it hit a mid-winter peak, reacted with concern.  In the minutes before the market closed on Monday, Ford shares were off more than 2%, hovering barely above the $13 mark.


Ford Posts Best Third-Quarter Profit Since 1990

Maker planning to pay down more debt, increase investments, create more jobs.

by on Oct.26, 2010

Big profits and a smaller debt load for Ford.

Ford Motor Co. has posted its best third-quarter profit in two decades, reporting earnings of $1.69 billion for the July-September quarter, or 43 cents per share.

Yet again, the earnings ran ahead of what industry analysts had been forecasting, at least once special charges were excluded from the results, which would raise the number to 48 cents a share – 10 cents more than what had been collectively forecast, according to Thomson One Analytics, by 12 key analysts.

While net income rose 68% compared to year-earlier numbers, Ford saw a 3%, of $1 billion, drop in quarterly revenues.  But excluding sales by Volvo, the Swedish subsidiary Ford sold this year, the U.S. makers revenues actually rose $1.7 billion.

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“This was another strong quarter and we continue to gain momentum with our One Ford plan,” proclaimed CEO Alan Mulally, referring to the strategy he began implementing after joining the automaker four years ago.  The One Ford plan has re-focused the company on its core Ford and Lincoln brands, resulting in the sell-off of European-based marques, such as Jaguar and Volvo, and the closure of the moribund Mercury division.


Ford Delivers Strong $2.1 Bil Q1 Profit

Maker planning boost to production.

by on Apr.27, 2010

Ford CEO Alan Mulally's One Ford strategy is yielding results - but he and Ford's products will be tested in the months to come.

Intent on showing last year’s positive numbers weren’t a fluke, Ford Motor Co. weighed in with another solid earnings report, this time going $2.08 billion into the black for the first quarter of 2010.

The profit, which amounted to 50 cents a share, comes as a striking turnaround from the same period in 2009, when Ford reported a $1.43 billion loss, equal to a deficit of 60 cents a share.  More significantly, the 2010 figures come in at more than double the $1 billion – or 31 cents a share – the consensus of industry analysts surveyed by Thomson One Analytics had predicted.

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The latest numbers give hope to observers who are waiting to see if Ford can weigh in with another full-year profit.  Net income for 2009 came to $2.7 billion – the first time the maker had been in the black for a full year since 2005.