3rd Quarter Results

RNS Number : 7217H

Ford Motor Co

07 November 2008

 



Media:	Equity Investment	Fixed Income	Shareholder Inquiries
Bill Collins	Community:	Investment Community:	1.800.555.5259 or
1.313.390.4866	Larry Heck	Dave Dickenson	1.313.845.8540
[e-mail]	1.313.594.0613	1.313.621.0881	[e-mail]
	[e-mail]	[e-mail]

FORD REPORTS 3Q $129 MILLION NET LOSS; FURTHER COST AND CASH IMPROVEMENTS PLANNED TO CONTINUE IMPLEMENTING PRODUCT-LED TRANSFORMATION AND OFFSET GLOBAL INDUSTRY WEAKNESS + 

• Net loss of $129 million, or $0.06 a share, for the third quarter of 2008 

• Pre-tax loss of $2.7 billion from continuing operations, excluding special items ++ 

• Favorable curtailment gain in excess of $2 billion related to approval of retiree health care agreement 

• Company remains on track to achieve $5 billion in cost reductions in North America by the end of 2008 compared with 2005 (at constant volume, mix and exchange; excluding special items) 

• Automotive gross cash (including cash and cash equivalents, net marketable securities and loaned securities) on Sept. 30, 2008 totals $18.9 billion +++ 

• Available credit lines total $10.7 billion; overall liquidity totals $29.6 billion 

• Company planning further cost and cash improvements to continue implementing Ford's product-led transformation plan and offset continued weakness in the global automotive industry 

  Financial Results Summary	Third Quarter		First Nine Months
  	2008	O/(U) 2007	2008	O/(U) 2007
  Wholesales (000) ++	1,174	(313)	4,266	(644)
  Revenue (Bils.) ++	$      32.1	$     (9.0)	$     110.1	$     (18.2)
  Continuing Operations ++
  Automotive Results (Mils.)	$  (2,906)	$  (2,544)	$  (2,924)	$  (2,715)
  Financial Services (Mils.)	159	(397)	( 111)	(1,066)
  Pre-Tax Results (Mils.)	$  (2,747)	$  (2,941)	$  (3,035)	$  (3,781)
  After-Tax Results (Mils.)	(2,977)	(2,953)	(3,846)	(3,909)
  Earnings Per Share ++++	(1.31)	(1.30)	(1.72)	(1.75)
  Special Items Pre-Tax (Mils.)	$   2,207	$  2,557	$  (6,219)	$  (6,199)
  Net Income
  After-Tax Results (Mils.)	$  (129)	$     251	$  (8,696)	$  (8,784)
  Earnings Per Share	(0.06)	0.13	(3.89)	(3.94)
  Automotive Gross Cash (Bils.) +++	$     18.9	$   (16.7)	$    18.9	$   (16.7)

To view the full unabridged 3rd Quarter Results, click on, or paste the following link into your web browser:

http://www.rns-pdf.londonstockexchange.com/rns/7217H_1-2008-11-7.pdf

 

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