Filed under: Ford, Earnings/Financials
http://www.blogcdn.com/www.autoblog.com/media/2011/10/ford-world-headquarters-opt.jpg
Just how much is $1.6 billion? Enough to buy every single Mustang Ford sold through the first eight months of the year - at retail.
While Ford’s net income came in at $1.6 billion, the company reported a $1.9 billion pre-tax operating profit for the third quarter, down $111 million from the third quarter of 2010. Automotive profits accounted for $1.3 billion of the total, up $45 million over last year. Third quarter revenue topped $33 billion.
Ford’s focus over the last few years centered on improving its domestic operations appears to be working, as North and South America reported profitable third quarters, while the rest of the world - Europe, Asia Pacific and Africa - languished in the red. It was Ford’s ninth consecutive profitable quarter, thanks in large measure to a 14 percent improvement in U.S. sales so far this year.
Ford’s current roll has led to credit ratings upgrades from two key agencies, with some analysts speculating that the automaker will resume paying shareholder dividends soon, something it has not done since 2006. Read all 17 pages of the official release, after the jump.Continue reading Ford reports $1.6B third quarter earnings
Ford reports $1.6B third quarter earnings originally appeared on Autoblog on Wed, 26 Oct 2011 13:01:00 EST. Please see our terms for use of feeds.
Permalink | Email this | Commentshttp://feedads.g.doubleclick.net/~at/vFGT2Uf8C17rLFqnHab3E1A3xp0/0/di
http://feedads.g.doubleclick.net/~at/vFGT2Uf8C17rLFqnHab3E1A3xp0/1/di
http://feeds.feedburner.com/~ff/weblogsinc/autoblog?i=cq6NLPlK9jM:xPChmkJamZU:wF9xT3WuBAs http://feeds.feedburner.com/~ff/weblogsinc/autoblog?i=cq6NLPlK9jM:xPChmkJamZU:V_sGLiPBpWU
http://feeds.feedburner.com/~r/weblogsinc/autoblog/~4/cq6NLPlK9jM