Ford Q2 earnings rise on N.A. record, first European profit in 3 years
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Ford Q2 earnings rise on N.A. record, first European profit in 3 years
http://www.autonews.com/article/2014...fit-in-3-years
DETROIT -- Ford Motor Co. posted a second-quarter pretax profit of $2.6 billion, bolstered by a record performance in North America and its first quarterly profit in Europe in three years.
The pretax profit was up $44 million from a year earlier. Ford’s second-quarter net income was $1.3 billion, an increase of $78 million compared with last year’s quarter. Ford’s net figure was trimmed by pretax special charges of $481 million, the company said in a statement today.
Revenue fell slightly to $37.4 billion.
The pretax profit was up $44 million from a year earlier. Ford’s second-quarter net income was $1.3 billion, an increase of $78 million compared with last year’s quarter. Ford’s net figure was trimmed by pretax special charges of $481 million, the company said in a statement today.
Revenue fell slightly to $37.4 billion.
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Ford Motor Co. posted earnings per share of 40 cents in the second quarter of 2014, down from 45 cents in the second quarter of 2013 (all excluding special items).
The results highlighted the heightened role North American margins play as a barometer for the health of domestic auto makers that were once far more fixated on market share as a yard stick.
After decades of citing high production costs as a competitive disadvantage in their home market, GM and Ford are capitalizing on more favorable labor deals to cash in on a resurgence in demand for their biggest vehicles.
Both companies boosted margins in North America, but Ford's 11.6% operating profit in the region solidly outpaced GM's 9.2%, overshadowing Ford losing 1.2 points of U.S. market share.
Dow Jones Newswires
July 24, 2014 13:27 ET (17:27 GMT)
The results highlighted the heightened role North American margins play as a barometer for the health of domestic auto makers that were once far more fixated on market share as a yard stick.
After decades of citing high production costs as a competitive disadvantage in their home market, GM and Ford are capitalizing on more favorable labor deals to cash in on a resurgence in demand for their biggest vehicles.
Both companies boosted margins in North America, but Ford's 11.6% operating profit in the region solidly outpaced GM's 9.2%, overshadowing Ford losing 1.2 points of U.S. market share.
Dow Jones Newswires
July 24, 2014 13:27 ET (17:27 GMT)
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