Notices
Ford Discussions Non-Mustang Ford Products

Ford Reports $1 Billion 3rd Qtr Profit

Old 11/2/09, 02:10 PM
  #1  
Like Father...
I ♥ Sausage
Thread Starter
 
Rather B.Blown's Avatar
 
Join Date: April 4, 2007
Location: Just outside the middle of nowhere
Posts: 14,423
Likes: 0
Received 96 Likes on 92 Posts
Ford Reports $1 Billion 3rd Qtr Profit

NEW YORK (CNNMoney.com) -- Ford Motor reported a surprise profit for the third quarter Monday, helped by a bump in sales from the Cash for Clunkers program, a reduced cost structure and problems at its U.S. rivals.

The only major U.S. automaker not to file for bankruptcy this year earned $997 million, or 29 cents a share, compared to a loss of $161 million, or 7 cents a share on that basis a year earlier.

Excluding special items, Ford reported a profit of $873 million, or 26 cents a share, in the period. Analysts had been forecasting a loss of 12 cents a share for the quarter on this basis. Ford said it was the first pre-tax operating profit since the start of 2008.


The company said cost cutting during the past year and an improved outlook for sales leads it to believe Ford will be "solidly profitable" in 2011, excluding special items.


That's the most bullish outlook Ford has offered investors since it started losing money in 2005. The company had previously said it was looking for break-even or better results that year.



......During the quarter, Ford's U.S. market share rose by 2.2 percentage points to 14.6%. Ford benefited from steep market share declines at GM and Chrysler in the wake of their bankruptcies, but it also posted bigger market share gains than Japanese rivals such as Toyota Motor (TM) and Honda Motor (HMC).
Full Story Here

Congratulations Mr. Mulally. Keep up the good work.

Last edited by Rather B.Blown; 11/2/09 at 11:42 PM.
Rather B.Blown is offline  
Old 11/2/09, 02:35 PM
  #2  
More Avatar Changes Than Paris Hilton Vid's
TMS Staff
 
Evil_Capri's Avatar
 
Join Date: February 3, 2004
Posts: 14,064
Received 69 Likes on 62 Posts
Moving to 'Other Fords,' but will leave a link for a day . . .
Evil_Capri is offline  
Old 11/2/09, 03:20 PM
  #3  
TMS Post # 1,000,000
Serbian Steamer
 
Zastava_101's Avatar
 
Join Date: January 30, 2004
Location: Wisconsin / Serbia
Posts: 12,540
Likes: 0
Received 0 Likes on 0 Posts
Nice.
Zastava_101 is offline  
Old 11/2/09, 03:27 PM
  #4  
Fatboy Loves Fried!
TMS Staff
 
2k7gtcs's Avatar
 
Join Date: October 9, 2007
Posts: 27,986
Received 139 Likes on 119 Posts
How dare they 'make' money in this economy.

I think we should take that money and pay for health care. We all deserve it right? I mean who doesn't want someone else to pay for their health care?

2k7gtcs is offline  
Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
Jim74656
SN95 Mustang
7
12/27/18 02:53 PM
jc46002003
Warranty and Service Issue
70
4/15/16 03:00 PM
JonathonK
GT350
6
9/17/15 10:13 AM
ssjbuu
Warranty and Service Issue
6
8/28/15 08:55 AM
tacbear
Mustang Motorsports
0
8/4/15 08:25 PM


Thread Tools
Search this Thread
Quick Reply: Ford Reports $1 Billion 3rd Qtr Profit


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service

© 2019 MH Sub I, LLC dba Internet Brands

We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sites.