Ford Surges on Strong Results

Ford Motor ($F) has done it again. Net earnings for Q2 jumped 19% to $1.2 billion. Revenues rose 15% to $38.1 billion. This was Ford’s 16th-straight profitable quarter. On a per-share basis, Ford made 45 cents which easily beat the 37-cent estimate Wall Street had.

Once again, North America was the main driver of results. Ford made $2.3 billion in North America thanks to rising truck sales. F-Series sales rose 26% in Q2. And once again, Europe was the weak line in Ford’s business chain. The automaker had a pre-tex loss of $348 million in the Old World.

The good news is that Ford offered improved guidance for the rest of the year. They now see pre-tax earnings clearing $8 billion for the year. Before, they said they had expected to hit $8 billion. In Europe, Ford said they expect to lose $1.8 billion instead of the earlier projected $2 billion.

Ford also had a blow-out quarter in Asia. The company makes a big deal about this, but Asia is a very small part of their business. The stock has been as high as $17.49 this morning which is a two-and-half year high.

Posted by on July 24th, 2013 at 10:17 am


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