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07-26-2007, 11:49 PM
(This post was last modified: 07-26-2007, 11:55 PM by Frost__2001.)
Ford surprises with first profit in 2 years
Associated Press
July 26, 2007
DEARBORN, Mich. ââ¬â ââ¬â Ford Motor Co. has posted surprising second-quarter earnings of $750-million, its first profitable quarter in two years.
The profit of 31 cents per share compares with a net loss of $317-million, or 17 cents per share, in the same quarter of last year.
The company attributed the gains to significant year-over-year improvement in all of its automotive operations, and to cost cuts from a restructuring and positive special items that totalled $443-million. That includes a $206-million gain related to sale of its Aston Martin unit.
Ford's performance surprised Wall Street. Fifteen analysts polled by Thomson Financial expected the company to lose 35 cents per share, excluding special items.
Wall Street analysts had nearly universally predicted another quarter of losses for Ford - especially given the continual downturn in car sales. But sales of the Edge crossover have increased of late and Ford's cutting of jobs and closing of plants has dramatically dropped operating costs.
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A quarterly profit is nice but lets see them turn a profit for a whole year without having to rely on gains made from selling off parts of the company.
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Very true ... but as an investor what I find most interesting is that this is so unexpected ... the "experts" were forecasting a loss of $0.35 per share and everyone knew about the sale of Aston Martin.
habmann,Jul 26 2007, 11:15 AM Wrote:A quarterly profit is nice but lets see them turn a profit for a whole year without having to rely on gains made from selling off parts of the company.
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Not including the sale, Ford still made 1/2 BILLION dollars.
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Let's not forget all the employees that they dumped.
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True ... but to put that into perspective they've been losing billions every quarter for the past 7 quarters ... so a single quarter profit in the "millions" (with a third of that coming from divesting) is nothing more than a pleasant little surprise in the overall scheme of things.
Put 3 or 4 profitable quarters together and then you've got something ... and so this is a good start.
OAC_Sparky,Jul 26 2007, 12:26 PM Wrote:Not including the sale, Ford still made 1/2 BILLION dollars.
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2008 Fusion SEL MTX - DD1 * 2009 Fusion SEL - DD2 * 2007 Focus ZXW - R*I*P * 2004 Focus ZTW CD Silver - sold * 2004 Focus ZTW Black - sold * 2003 Focus ZTW Black - sold * 2001 Focus ZTW Gold - sold * 2000 Focus SE Wagon (ZTW option) - Black - sold * 2000 Focus SE Wagon (ZTW option) - Gold R*I*P
2003 Focus ZX5 infra-red Track Rat - R*I*P
2003 ZX5 CD Silver Track Rat - retired, but still in the driveway
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* New Zetec crate motor - NFG - thanks Topspeed *
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it starts with one profitable quarter then goes into to two, you can't just say that no measure of success. Ford is in the back for a quarter, they will just have to continue to do what they are doing in the next quarters and then they will have a profitable year.
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