Ford Motor Co. (F) Turns a Profit
Job cuts, slimmer losses in North America and good sales overseas helped Ford Motor Co. post surprise second-quarter earnings Thursday of $750 million, its first profitable quarter in two years.
The company also said the sale of its Jaguar and Land Rover subsidiaries was probable, and it said its U.S. market share rose during the quarter.
Still, President and Chief Executive Alan Mulally said investors should not think that Ford has turned the corner to consistent profitability.
Ford's second-quarter profit of 31 cents per share compares to a net loss of $317 million, or 17 cents per share, in the same quarter of last year.
It surprised 15 Wall Street analysts surveyed by Thomson Financial who expected the company to lose 35 cents per share excluding special items.
The company also said the sale of its Jaguar and Land Rover subsidiaries was probable, and it said its U.S. market share rose during the quarter.
Still, President and Chief Executive Alan Mulally said investors should not think that Ford has turned the corner to consistent profitability.
Ford's second-quarter profit of 31 cents per share compares to a net loss of $317 million, or 17 cents per share, in the same quarter of last year.
It surprised 15 Wall Street analysts surveyed by Thomson Financial who expected the company to lose 35 cents per share excluding special items.
Labels: F, Ford Motor co.
posted by Stock Administrator @ 1:29 PM
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