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Ford gains 1% after bottom-line beat

  • North America Wholesales of 760K vs. 802K a year ago, with revenue of $21.2B vs. $21.8B. Operating margin of 11.6% up 100 basis points from a year ago. Pre-tax income of $2.44B vs. $2.32B a year ago. Market share dipped 1.2 points to 15.3%. For FY14, Ford (NYSE:F) expects pre-tax profit to be lower than 2013 and operating margin in the 8-9% range.
  • South America Wholesales of 114K vs. 147K a year ago, with pre-tax loss of $295M vs. a profit of $151M a year ago. Ford now expects a larger loss in South America than what it previously guided for.
  • Europe Wholesales of 376K vs. 377K a year ago, with pre-tax profit of $14M vs. a loss of $306M. Full-year guidance is unchanged.
  • Asia-Pacific Wholesales of 362K vs. 300K a year ago, with pre-tax income of $159M vs. $130M. Wholesale volume in China gained 26% Y/Y. Company expects full-year profit in 2014 to be higher than a year previous.
  • Conference calls at 8:30 and 11:30 ET can be heard here.
  • Previously: Ford Motor beats by $0.03, misses on revenue
  • Shares +1% premarket
Comments (2)
  • PoliceCarSam
    , contributor
    Comments (13) | Send Message
     
    You can see it happening, perhaps not all at once, but the momentum is there. Positive developments in the corporate philosophy, coupled with a superior product line (other than the ongoing improvements in MyFord Touch) are now starting to manifest themselves in the "One Ford" theme. "Drive One," they say. The vehicles are as good or better than most on the market, and the market responds. Yes, there are hurdles ahead, but Ford has already factored those into its forward-thinking plan. Those of you who have been the "nabobs of negativity" should stay off the scene, and just hide and watch a fabulous metamorphosis develop Ford into a beautiful thing. This is a stock to own for the long-haul with plenty of positive news yet to come.
    24 Jul, 09:51 AM Reply Like
  • JWDH
    , contributor
    Comments (3) | Send Message
     
    I agree......Ford is the car company to own and hold
    25 Jul, 08:35 AM Reply Like
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