Ford Beats Expectations With $2.6B Profit In 2nd Quarter; Highest Gain In 6 Years

Source: Detroit Free Press

(Detroit Free Press)- Ford reported a second quarter profit of $2.6 billion today, marking the automaker's best quarterly performance in six years and easily beating Wall Street expectations.

The net income is 15% higher than the company's profit for the same three months last year when it reported a net income of $2.3 billion that was aided by one time gains from a debt exchange.

Before one-time adjustments, Ford reported earnings per share of 68 cents, or $2.7 billion for the three months ending June 30.

Analysts, on average, expected a quarterly profit of 41 cents a share from based on 12 estimates collected by Bloomberg News. For the same period last year Ford had an operating loss of $638 million, or 21 cents a share, a year earlier, excluding a gain from debt reductions.

Ford said its revenue for the second quarter increased to $31.1 million, up from $26.8 million for the same period last year.

"We delivered a very strong second quarter and first half of 2010 and are ahead of where we thought we would be despite the still-challenging business conditions," Ford President and CEO Alan Mulally said in a statement. "Our progress is being led by the strength of our new products and our leaner global structure."



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Look at the 1990 Mustang, which I thought looked like a POS when it came out:

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And compare it with this recent model Mustang:

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American styling is back!

Apologies to anyone who liked the 1990 Mustang, but its styling reeked. :)

and I see a lot more of them on the road lately. They seem to be the only new SUVs you see anymore.

The cab companies are buying them in quantity now, so they must be holding up pretty well under hard use.

.......automotive background, hobbyist or general doing repairs on your or friends cars? I am not a Ford "guy", but I would consider the early "Fox body" Mustangs one of the better looking cars as far as styling. They had the same basic configuration from 85? up till 95? I believe and sold a bunch of fucking cars. Now, the new ones look fantastic and run more efficiently and are quicker, but the fact of the matter is the "Fox bodies" are pretty nice looking cars confirmed by sales. Oh, by the way, I'm an old "original" Pontiac guy before I am accused of being "Henry Ford".

The Sixties styling was classic, then they turned out crap under that nameplate. The Mustang II was the ultimate insult to this car's memory.

I'm glad to see they brought back style and grace to the Mustang name, I have seen a few of the newer Camaros. It was a glorious time in American auto history when those two nameplates first went head to head in competition.

Ford was the only one of the "Big 3" that did not require a government bailout.

Ford didn't take a bailout and concentrated on giving the market what they wanted and they're making money. GM took a huge bailout, and while they're still alive they're not doing nearly as well. Pension entitlements, crappy cars and worse management screwed GM.

but I like my '06 Frontier a lot better

Ford didn't need a gov. bailout because they took out huge private loans before the credit dried up, not because it was doing particularly better.

The auto bailout helped the entire industry, including Ford, by keep many, many suppliers from going out of business. Additionally, it kept the economy from getting even worse. There's a reason that even Toyota wanted the government to assistant GM and Chrysler.

"crappy cars"

GM's vehicles are great and have been for a while.

One of the cars I really want is being built in Mexico. =/

(Cars falling apart)

and manufactured obsolescence...

("pent up demand" resulting from psychological manipulation and the deep malaise of the average worker)

Sales catch up after latest dip in the long collapse of end-stage capitalism...

Big whoop... :eyes:

By the way, the fifties called; they want their marketing strategy back.

Remember Catastrophic Climate Destabilization and resource depletion?

Caused in no small part by the conspiracy to destroy mass transit in the US and replace it with these horribly destructive gas-powered, (primarily) single-occupancy vehicles.

If Ford does well, that means they're killing us all quicker...

And manufactured desire is alive and well and a vital part of current marketing strategy...

Too expensive to maintain. GM's problem was with it's shoddy vehicle design in general. Things like roof felt falling down due to cheap adhesive being used and other minor, nagging, easily fixed problems sullied GM.

both make better vehicles than GM anyways.

Republicans are pathetic.

about 4 months ago. I usually rent a larger car for road trips, but reserved too late. It was a comfortable ride, and doing 75-80 mph (rural Texas speed limit is 70) I was getting 36 MPG

90% of the cars are Fords, most are fairly new.

I've had Fords in the past. After the Windstar fiasco, I'll never buy one again.

reliable. The nonprofit housing agency is still using it and it has been problem free for 8 years and 228,000 miles. I'd trade my Chrysler minivan for another Windstar in a heartbeat if Ford still made them. My old 84 Tempo was a great car as was my 92 Tempo (it had almost 400,000 miles on it when it finally died after 3 teenagers learned to drive a stick on it)

We are the original owners of a 1995 F 150 with 175,000 that looks and runs like new. I had a 1995 Thunderbird that I loved and would be driving still had not some fool plowed into me when I was stopped for a stop light.

Without doubt my next vehicle will be a Ford.

Last weekend we drove up to a city about an hour away, and I drove the Fusion back. I'd give it a thumbs up. Ford's quality has been highly improving these last few years.

:sarcasm:

This is my 2006 GT, I've had it since new and never once has it given me a lick of trouble. I do the scheduled maintenance as required and take good care of it. I recently retired and decided to do a few upgrades to the car. New tires and wheels, an aftermarket exhaust system and a cold air induction kit is all I did.