Skip to comments.Ford swings to $2.7 billion profit
Posted on 07/23/2010 5:03:41 AM PDT by RayChuang88
NEW YORK (CNNMoney.com) -- Ford Motor earned $2.7 billion in the second quarter, reversing from an operating loss in the prior year's quarter and easily topping estimates.
The automaker earned 68 cents a share, excluding special items. That compares to a loss of $638 million, or 21 cents a share, on the same basis in the year earlier quarter.
The consensus forecast of analysts surveyed by Thomson Reuters was for earnings of 40 cents a share. Ford easily topped even the most bullish forecast of a 48 cent a share profit.
(Excerpt) Read more at money.cnn.com ...
It also allowed Ford to begin the process of merging its US and European products lines, so by 2012 Ford's automotive product line outside of its pickup trucks will pretty much be the same as its highly-regarded European product line. And Ford will likely offer both all-electric and plug-in hybrid vehicles on a large scale long before most everyone else does--and not at nosebleed prices like what GM wants with the Chevrolet Volt.
How come we taxpayers own GM instead of Ford??
The American spirit triumphs over the American government. Bravo. I hope that mucked up debt issuance was just to refinance and not a key capital raise to continue growing again. Otherwise Dodd et al may get the last laugh.
Because they took Obama’s bail out trap,with the Ford news today I bet Obama’s dog got kicked .
I think this also shows that there are a lot of people whom, like me, will never buy a product from either GM or Chrysler because of their unconstitutional takeover by the Government.
Because if we owned Ford instead of GM, it would be GM experiencing an up trend. ;-)
If my next car is American-made, it'll be a Ford. Anything by Chrysler or GM is off the table, not even going to be considered. The only reason I wouldn't go with a Ford would be based on price/performance/features/quality - they'll have to compete-for and win my dollars. You know, that free market system/idea that seems to escape our "liberal" friends. (or cause them to recoil in horror)
Ford has done an AMAZING turn around since the 1970’s, when their cars were nothing more than rolling piles of junk.
I remember a 1973 Ford LTD my Dad bought. Biggest POS I’ve ever seen. We had every imaginable kind of trouble with that car, and my Dad finally threw in the towel and found some sucker to buy it.
I now own a Ford Fusion, and it is one of the best cars I’ve ever had.
Kudos to you, Ford.
The govt always makes LOSING bets!
They also sold Hertz for 15 billion, hired a CEO who is very smart. Someone needs to pass that info on to harry reed. The old fool claimed that congress saved them.
I think I read last week that the UAW (crime syndicate)
was going to go after Ford Mo.Co. with hammer and sickle.
They have targeted FMC for major wage-benefit increases.
This will cause what little manufacturing left in our
country to flee off-shore. This is what the leftist
want, a cripple America using crutches so the rest of
the world can catch up. It is all about “fairness”,
don’t ya know.
Agreed about the turn around. My parents bought an ‘80 Mustang - 2.3 liter engine. That thing felt like it had a lawnmower engine. High reving, going nowhere fast. Cheap interior...I remember I would punch the accelerator to overtake a car, and it literally would seem that the car was slowing down. That experience tainted our family forever in regards to Ford. There was nothing at the time that Ford produced was any good - Ford Fairmont, Granada, Thunderbird...All pieces of junk...
They have come a long way...
I won't even rent one. Three weeks ago I flew into Durango, CO, to stop for the night and needed to rent a car. Avis tried to stick me with a Chevy and I refused.
Er, what a minute...this couldn't have possibly happened! Everybody knows that only the government can profitably run an auto company...not big business!
Go FORD! Wish I could afford a new F-150. Nice trucks. My days with GM and Dodge are over for good!
I bought a Toyota Prius (A death trap according to the Obama Administration) and now am suffering with a paltry 53 mpg on the highway and absolutely no problems.
It is a sacrifice, but we live in an era of sacrifice according to the Obama Administration.
If it hadn't been for Obama, I might have purchased an American-built auto.
Because Ford has competent management and creates quality products that people want to buy. GM and Chrysler didn't.
We were out in SW Colorado last winter on a ski trip. I had to put my F-250 crew cab in the shop for a day. A nearby Avis office had an F-150 crew cab, so we rented it. What a nice truck! My F-250 is a '97 7.3L Powerstroke and I wouldn't take a gold monkey for it, but man, was that F-150 plush! Too bad it won't carry my truck camper....
We don't own squat. GM was bought by union/government thugs with OUR stolen tax money.
GM should be liquidated, and the proceeds should go to the stakeholders as outlined in standard bankruptcy proceedings.
I still won't allow one of their POS fascistmobiles to enter my driveway.
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