Ford Posts $2.6B Q2 Profit

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•Ford reports second quarter net income of $2.6 billion, or 61 cents per share, a $338 million improvement from second quarter 2009. Pre-tax operating profit totaled $2.9 billion, or 68 cents per share, a $3.5 billion improvement from second quarter 2009 and a $932 million improvement from first quarter 2010++
•Ford Automotive operations posted a second quarter pre-tax operating profit of $2.1 billion, a $3.2 billion improvement from second quarter 2009 and $872 million improvement from first quarter 2010
•Each Automotive business operation reported a profit for the quarter and showed improvement compared with a year ago; Ford North America reported second quarter pre-tax operating profit of $1.9 billion, a
$2.8 billion improvement from second quarter 2009 and $645 million improvement from first quarter 2010
•Revenue for the quarter totaled $31.3 billion, up $4.5 billion from second quarter 2009; excluding Volvo revenue from 2009, the revenue increase was $7.4 billion, or over 30 percent++
•Ford ended the quarter with $21.9 billion of Automotive gross cash and total liquidity of $25.4 billion. Automotive operating-related cash flow was $2.6 billion positive
•Ford retired $7 billion of debt, lowering annualized interest costs by more than $470 million. Ford ended the quarter with $27.3 billion in Automotive debt
•Pre-tax operating profit in the first half equaled $5 billion, a $7.5 billion improvement over first half 2009++
•Ford Credit reported second quarter pre-tax operating profit of $888 million, a $242 million improvement from second quarter 2009 and a $60 million improvement from first quarter 2010
•Ford is on track to deliver solid profits in 2010 with positive Automotive operating-related cash flow, and continued improvement in 2011
•By the end of 2011, Ford expects to move from an Automotive net debt position to a net cash position

http://media.ford.com/article_displa...ticle_id=32973

 

Moving to 'Other Fords' section, but will leave a link for a day . . .

 

Yay Ford, way to go. Amazing what good product will do for a company.

 

Good news.

 

Love it when a plan comes together!!

 

Still waiting for GM and Fia- er, Daim - uh... whatever to pull the same feat. With the impending release of new Fords in the near future, hope this leads to true profitability by completely erasing its debt.

 

Im a happy shareholder

 

+1. The last two weeks or so have been alright, but the last couple of days have been awesome!