For the first time in two years Ford has posted a profit. A second-quarter profit of $750 million, or 31 cents a share, is up from a loss of $317 million during the same period last yearâsurprising everyone but Alan Mulally, Ford's new CEO. What people are saying:
"There's no doubt that we are making progress," Mulally said in a conference call with analysts and reporters. "But we still have a long way to go...
We expect the second half to be difficult."
"We continue to remain a bit cautious given the lack of new product and Ford's ability to maintain pricing -- a key driver to recent results," said Robert Hinchliffe of UBS.
"This is the third consecutive quarter since Mulally came on board that the company upsided cash flow, if not earnings per share, expectations," said Peter Nesvold of Bear Stearns. "That's encouraging."
"They outperformed across the board," said analyst Bradley Rubin of BNP Paribas. "Globally, they're certainly making progress. The North American results were about half a billion better than people expected -- and that's impressive for a market like this. I think something is working here."
Full story here.
Here's Inside Line's take: Ford Surprises With Second-Quarter Profit
"We continue to remain a bit cautious given the lack of new product and Ford's ability to maintain pricing -- a key driver to recent results," said Robert Hinchliffe of UBS.
"This is the third consecutive quarter since Mulally came on board that the company upsided cash flow, if not earnings per share, expectations," said Peter Nesvold of Bear Stearns. "That's encouraging."
"They outperformed across the board," said analyst Bradley Rubin of BNP Paribas. "Globally, they're certainly making progress. The North American results were about half a billion better than people expected -- and that's impressive for a market like this. I think something is working here."
Full story here.
Here's Inside Line's take: Ford Surprises With Second-Quarter Profit
anythngbutgm says:
09:14 AM, 07/27/07
Good news. But don't crack open the champagne (get complacent) just yet...
ateixeira says:
09:30 AM, 07/27/07
Imagine what they could have done with a new Focus...
estreka says:
12:09 PM, 07/28/07
Ok, now take away the revenue generated by the sale of Aston Martin.
Still, it is impressive. I wonder if the buyout process was factored into the net margins.