1st Quarter Results

RNS Number : 8648K

Ford Motor Co

27 April 2010

 



Contact:

Media: John Stoll 1.313.594.1106 [e-mail]

Equity Investment Community: Larry Heck 1.313.594.0613 [e-mail]

Fixed Income Investment Community: Shawn Ryan 1.313.621.0881 [e-mail]

Shareholder Inquiries: 1.800.555.5259 or 1.313.845.8540 [e-mail]

FORD POSTS FIRST QUARTER 2010 NET INCOME OF $2.1 BILLION AS STRONG NEW PRODUCTS FUEL PROFITABLE GROWTH*

•  Ford reports first quarter net income of $2.1 billion, or 50 cents per share, a $3.5 billion improvement from first quarter 2009. Pre-tax operating profit of $2 billion, or 46 cents per share, a $4 billion improvement from first quarter 2009⁺⁺

•  Ford Automotive operations posted first quarter pre-tax operating profit of $1 .2 billion, a $3.2 billion improvement from first quarter 2009⁺⁺

•  Ford North America reported first quarter pre-tax operating profit of more than $1.2 billion, a $1.9 billion improvement from first quarter 2009; Ford Europe earned a pre-tax operating profit of $107 million, a $692 million improvement from a year ago⁺⁺

•  Revenue for the quarter totaled $28.1 billion, a $3.7 billion improvement from first quarter 2009⁺⁺

•  Strong response to new vehicles drove the largest quarterly U.S. market share gain since 1977

•  Ended the quarter with $25.3 billion of Automotive gross cash, with operating-related cash outflow of $100 million. Ford ended the quarter with $34.3 billion in Automotive debt

•  Ford Motor Credit Company reported first quarter pre-tax operating profit of $828 million, an $864 million improvement from first quarter 2009

•  Based on Ford's improving performance, the gradually strengthening economy, and its present assumptions, Ford now expects to deliver solid profits this year with positive Automotive operating-related cash flow

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