Ford Announces 8.3 Billion Profit, Largest in Past Decade
01-28-2011, 09:18 AM
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Ford Announces 8.3 Billion Profit, Largest in Past Decade FORD REPORTS 2010 FULL YEAR NET INCOME OF $6.6 BILLION; FOURTH QUARTER NET INCOME OF $190 MILLION
•Full year net income was $6.6 billion, or $1.66 per share, a $3.8 billion increase from a year ago. Pre-tax operating profit was $8.3 billion, an increase of $8.3 billion from a year ago.
•Fourth quarter net income was $190 million, or 5 cents per share, a decrease of $696 million from a year ago. Net income was negatively impacted by a previously disclosed $960 million charge for completion of debt conversion offers in the quarter that reduced outstanding Automotive debt by over $1.9 billion.
•Fourth quarter pre-tax operating profit was $1.3 billion, or 30 cents per share, a decrease of $322 million from a year ago. Ford now has posted a pre-tax operating profit for six consecutive quarters.
•Automotive pre-tax operating profit was $741 million for the fourth quarter and $5.3 billion for the full year, an improvement of $7.2 billion from full year 2009.
•Ford Credit reported a pre-tax operating profit of $572 million for the fourth quarter and $3.1 billion for the full year, an increase of $1.1 billion from full year 2009.
•Revenue was $32.5 billion in the fourth quarter and $120.9 billion for the full year, an increase of $17 billion from full year 2009, excluding Volvo from 2009.
•Ford continued to reduce Automotive debt with an additional $7.3 billion of actions taken in the fourth quarter, including $2.5 billion of newly announced reductions. For the full year, Ford reduced Automotive debt by $14.5 billion, or 43 percent, which will lower annualized interest expense by more than $1 billion.
•Ford ended 2010 with Automotive gross cash exceeding debt by $1.4 billion, an improvement of $10.1 billion from year end 2009. Ford ended 2010 with $20.5 billion of Automotive gross cash.
•Ford generated positive Automotive operating-related cash flow of $1 billion in the fourth quarter and $4.4 billion in 2010, an improvement of $5.2 billion from full year 2009.
•Ford plans to deliver continued improvement in pre-tax operating profit and Automotive operating-related cash flow in 2011.
http://media.ford.com/article_displa...ticle_id=33916
•Full year net income was $6.6 billion, or $1.66 per share, a $3.8 billion increase from a year ago. Pre-tax operating profit was $8.3 billion, an increase of $8.3 billion from a year ago.
•Fourth quarter net income was $190 million, or 5 cents per share, a decrease of $696 million from a year ago. Net income was negatively impacted by a previously disclosed $960 million charge for completion of debt conversion offers in the quarter that reduced outstanding Automotive debt by over $1.9 billion.
•Fourth quarter pre-tax operating profit was $1.3 billion, or 30 cents per share, a decrease of $322 million from a year ago. Ford now has posted a pre-tax operating profit for six consecutive quarters.
•Automotive pre-tax operating profit was $741 million for the fourth quarter and $5.3 billion for the full year, an improvement of $7.2 billion from full year 2009.
•Ford Credit reported a pre-tax operating profit of $572 million for the fourth quarter and $3.1 billion for the full year, an increase of $1.1 billion from full year 2009.
•Revenue was $32.5 billion in the fourth quarter and $120.9 billion for the full year, an increase of $17 billion from full year 2009, excluding Volvo from 2009.
•Ford continued to reduce Automotive debt with an additional $7.3 billion of actions taken in the fourth quarter, including $2.5 billion of newly announced reductions. For the full year, Ford reduced Automotive debt by $14.5 billion, or 43 percent, which will lower annualized interest expense by more than $1 billion.
•Ford ended 2010 with Automotive gross cash exceeding debt by $1.4 billion, an improvement of $10.1 billion from year end 2009. Ford ended 2010 with $20.5 billion of Automotive gross cash.
•Ford generated positive Automotive operating-related cash flow of $1 billion in the fourth quarter and $4.4 billion in 2010, an improvement of $5.2 billion from full year 2009.
•Ford plans to deliver continued improvement in pre-tax operating profit and Automotive operating-related cash flow in 2011.
http://media.ford.com/article_displa...ticle_id=33916
01-28-2011, 09:18 AM
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Ford Announces $8.3 Billion Profit
By Bertel Schmitt on January 28, 2011
Ford did not disappoint and today announced its biggest annual profit in a decade. According to a Ford release, the company booked $8.3 billion in pre-tax profits for 2010. That is a $3.8 billion increase from a year ago.
Ford ended 2010 with Automotive gross cash exceeding debt by $1.4 billion, an improvement of $10.1 billion from year end 2009. Ford ended 2010 with $20.5 billion of Automotive gross cash, and a debt of $19.1 billion.
Fourth-quarter net income fell to 5 cents per share from 25 cents per share after a $960 million charge for completing a debt conversion in the third quarter. The fickle stock market did not like that. The F share lost 6.3 percent in premarket trading. It also dragged down GM, which lost 2.1 percent to $37.84 before the bell.
By Bertel Schmitt on January 28, 2011
Ford did not disappoint and today announced its biggest annual profit in a decade. According to a Ford release, the company booked $8.3 billion in pre-tax profits for 2010. That is a $3.8 billion increase from a year ago.
Ford ended 2010 with Automotive gross cash exceeding debt by $1.4 billion, an improvement of $10.1 billion from year end 2009. Ford ended 2010 with $20.5 billion of Automotive gross cash, and a debt of $19.1 billion.
Fourth-quarter net income fell to 5 cents per share from 25 cents per share after a $960 million charge for completing a debt conversion in the third quarter. The fickle stock market did not like that. The F share lost 6.3 percent in premarket trading. It also dragged down GM, which lost 2.1 percent to $37.84 before the bell.
01-28-2011, 10:32 AM
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How long until an import troll shows up and "debunks" this as some clever manipulation of debt?
American automakers are recovering fast because they are building not only quality cars, but COOL quality cars that people actually want to drive. Toyota and Honda are still building boring econoboxes. Back when American cars were falling apart at 100k, that worked. Now that Chevy and Ford are actually beating Toyota and Honda in overall quality, the Japanese automakers are going to have to learn what cool means in America.
Congrats to Ford, and I look forward to many more years of cars that represent the American spirit like the Mustang, SHO, and F150.
American automakers are recovering fast because they are building not only quality cars, but COOL quality cars that people actually want to drive. Toyota and Honda are still building boring econoboxes. Back when American cars were falling apart at 100k, that worked. Now that Chevy and Ford are actually beating Toyota and Honda in overall quality, the Japanese automakers are going to have to learn what cool means in America.
Congrats to Ford, and I look forward to many more years of cars that represent the American spirit like the Mustang, SHO, and F150.
01-28-2011, 04:42 PM
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Inside Ford’s Best Year In A Decade
By Edward Niedermeyer on January 28, 2011
Regular TTAC readers know that there’s more to a successful performance from an automaker than pure volume alone. Average transaction prices, market share, and incentives all play a role in translating production numbers into profits. Luckily, our pals at TrueCar have broken all that lovely data down, and they’ve sent over the numbers behind Ford’s recently-announced $8.3b profit, the Blue Oval’s best performance in over a decade. And, as you can imagine, a performance like that requires not only a hefty increase in volume (up nearly 20% on the year) but also improvements in market share (up 1.23%), and transaction price. Yes, incentives stayed stronger than they perhaps needed to be, but they now make up a lower percentage of the average transaction price. And that, ladies and gents, is how you make a $5.4b pre-tax operating profit in the US market alone.
By Edward Niedermeyer on January 28, 2011
Regular TTAC readers know that there’s more to a successful performance from an automaker than pure volume alone. Average transaction prices, market share, and incentives all play a role in translating production numbers into profits. Luckily, our pals at TrueCar have broken all that lovely data down, and they’ve sent over the numbers behind Ford’s recently-announced $8.3b profit, the Blue Oval’s best performance in over a decade. And, as you can imagine, a performance like that requires not only a hefty increase in volume (up nearly 20% on the year) but also improvements in market share (up 1.23%), and transaction price. Yes, incentives stayed stronger than they perhaps needed to be, but they now make up a lower percentage of the average transaction price. And that, ladies and gents, is how you make a $5.4b pre-tax operating profit in the US market alone.
01-28-2011, 07:09 PM
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Congratulations to and good for Ford! I actually pretty much expect the same kind of report from GM, but not so much Chrysler. I do think Chrysler had a better year, but not a great one. 
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01-28-2011, 08:25 PM
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good for Ford. now its gm's turn. maybe we can turn this depression around. leave it alone washington. it will fix itself if we have no additional national debt.
as a union man, i dont approve of some things. but we have to stick together and get ourselves out of this mess.
as a union man, i dont approve of some things. but we have to stick together and get ourselves out of this mess.
01-28-2011, 09:12 PM
#9
good for Ford. now its gm's turn. maybe we can turn this depression around. leave it alone washington. it will fix itself if we have no additional national debt.
as a union man, i dont approve of some things. but we have to stick together and get ourselves out of this mess.
as a union man, i dont approve of some things. but we have to stick together and get ourselves out of this mess.
all three of them need to continue making desirable and reliable vehicles. they all seem to be heading in the right direction.
01-29-2011, 02:46 AM
#10
How long until an import troll shows up and "debunks" this as some clever manipulation of debt?
American automakers are recovering fast because they are building not only quality cars, but COOL quality cars that people actually want to drive. Toyota and Honda are still building boring econoboxes. Back when American cars were falling apart at 100k, that worked. Now that Chevy and Ford are actually beating Toyota and Honda in overall quality, the Japanese automakers are going to have to learn what cool means in America.
Congrats to Ford, and I look forward to many more years of cars that represent the American spirit like the Mustang, SHO, and F150.
American automakers are recovering fast because they are building not only quality cars, but COOL quality cars that people actually want to drive. Toyota and Honda are still building boring econoboxes. Back when American cars were falling apart at 100k, that worked. Now that Chevy and Ford are actually beating Toyota and Honda in overall quality, the Japanese automakers are going to have to learn what cool means in America.
Congrats to Ford, and I look forward to many more years of cars that represent the American spirit like the Mustang, SHO, and F150.
