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Filed under: Ford, Earnings/Financials
Ford announced its third quarter earnings today, and while there were losses pretty much across the board, they were smaller than the year before and gains were made in many key areas. For instance, while the company's net loss for Q3 was $380 million, that's a big improvement from the $5.2 billion loss it posted last year for the same quarter. On top of that, revenue grew from $37.1 billion last year to $41.1 billion this year. Other bits of good news we found swimming in red ink include global vehicles sales, which rose from 1,467,000 units to 1,487,000 this year. Focusing on just its North American auto business, Ford lost $1.0 billion before taxes, compared to a loss of $2.1 billion last year. Again, however, revenue in NA was up from $15.4 billion to $16.5 billion.
Of note is that Ford also released a detailed forecast of its fourth quarter performance and year end results, the latter of which the automaker believes could result in a small loss or actually breaking even. Keep in mind, Jaguar and Land Rover have yet to be sold and should be gone by early next year, which will infuse the company with some needed cash. As for Volvo, Ford appears committed to keeping the brand and working to improve its performance.
Ford's press release couldn't be inserted after the jump, so we have it gallerized below if you're interested in going over the numbers yourself.
[Source: Ford, Automotive News]
Gallery: Ford 2007 Q3 Results
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Ford announced its third quarter earnings today, and while there were losses pretty much across the board, they were smaller than the year before and gains were made in many key areas. For instance, while the company's net loss for Q3 was $380 million, that's a big improvement from the $5.2 billion loss it posted last year for the same quarter. On top of that, revenue grew from $37.1 billion last year to $41.1 billion this year. Other bits of good news we found swimming in red ink include global vehicles sales, which rose from 1,467,000 units to 1,487,000 this year. Focusing on just its North American auto business, Ford lost $1.0 billion before taxes, compared to a loss of $2.1 billion last year. Again, however, revenue in NA was up from $15.4 billion to $16.5 billion.
Of note is that Ford also released a detailed forecast of its fourth quarter performance and year end results, the latter of which the automaker believes could result in a small loss or actually breaking even. Keep in mind, Jaguar and Land Rover have yet to be sold and should be gone by early next year, which will infuse the company with some needed cash. As for Volvo, Ford appears committed to keeping the brand and working to improve its performance.
Ford's press release couldn't be inserted after the jump, so we have it gallerized below if you're interested in going over the numbers yourself.
[Source: Ford, Automotive News]
Gallery: Ford 2007 Q3 Results
Permalink | Email this | Comments
More...