Ford has announced the company's single largest profit since 1998, thanks in part to a one-time tax gain. The company drew in a net income of $13.6 billion last quarter and the news marked the automaker's 11th consecutive profitable quarter. For perspective, Ford made $190 million in 2010. The company's net income was bolstered by the fact that Ford eliminated a valuation allowance against deferred tax benefits. The company created the valuation allowance in 2006 when it began reporting operatin
Want more proof that Ford is really starting to pick up some serious momentum? The Wall Street Journal is reporting that The Blue Oval will follow up its $2.1 billion first quarter profits with another $1.6 billion $2.6 billion in black ink for the second quarter. That's a far cry from the $424 million the automaker lost in the second quarter of last year and another big step towards sustained financial success. Ford is making money in part because of restructured costs, but also because of incr
According to The Detroit News, Ford has officially announced its fourth straight profitable quarter in a row. The company managed to make $2.1 billion in profits over the first three months of 2010, thanks largely to a rapid increase in sales during the first part of the year. The company saw North American sales increase by around 39 percent compared to a year ago. At the same time, business is booming in China, where the Blue Oval managed to move around 84 percent more vehicles.
The latest musical theme for Ford workers and shareholders could be Junior Mafia's "Get Money." The Blue Oval just told its salaried employees that 2010 bonuses would average three percent. Not only does that reinstate the bonus system missing for the past two years, it rewards salaried employees the same way it rewards executives. Of course, it depends on the year's corporate and individual objectives being met, but there are few better ways to help ensure targets are delivered upon than by pro
Ford Motor Company has reported a fourth quarter profit for 2009 that helped the Dearborn, MI-based automaker end the last fiscal year in the black, its first yearly profit in about four years. While Ford's 2009 Q4 income was $868 million versus a loss of $5.9 billion the year prior, the effect on the year as a whole put $2.7 billion in the automaker's pockets versus a loss of $14.8 billion in 2008. What's more, Ford's Chief Financial Officer Lewis Booth forecasts a profitable 2010 and raised th
Ford issued a press release this morning detailing its plans for the remainder of 2008, and considering the current price of gasoline, weak U.S. economy and rising cost of raw materials, the changes are exactly what you'd expect. Ford will now be producing 690,000 vehicles during the remainder of this year's second quarter, down 20,000 units from its previous estimate and 15% below its total for Q2 2007. Production levels in Q3 will fall to between 510-540,000 units in Q3 2008 (down 15-20% from
Ford Motor Company had a first quarter that was much better than analysts expected. It recorded in its ledger a net income of $100 million, which compares favorably to the $282 million it lost during the same quarter last year. Revenue fell 8% to $39.4 billion, but that doesn't include the sale of Jaguar / Land Rover. Of course, market's outside the U.S. are what helped Ford the most, with South America, Ford Europe and the Asia Pacific Africa regions all contributing to the cause. But Ford's ho
Right now the thing Ford needs more than anything else is competitive product. They're doing everything they can to get those products to market, but it takes time. They can't tell us what the product is because it would further-deteriorate their competitive position, so we just have to wait and see if they're worth buying. Other aspects of recovery that Ford can work on more immediately include very important items like improving quality, lowering warranty costs, finding ways to cut materials c