3rd Quarter Results

RNS Number : 7785B

Ford Motor Co

02 November 2009

 

Contact:             

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 POSTS THIRD QUARTER 2009 NET INCOME OF $1 BILLION;
                                         CASH FLOW TURNS POSITIVE; NORTH AMERICA PROFITABLE+

• Reported net income of $997 million, or 29 cents per share, an improvement of $1.2 billion from the third quarter of 2008. Pre-tax operating profit totaled $1.1 billion, an improvement of $3.9 billion from a year ago.   It is Ford’s first pre-tax operating profit since the first quarter of 2008
  
• Ford North America posted a pre-tax operating profit of $357 million, its first profitable quarter since the first quarter of 2005 
  
• Reduced Automotive structural costs by $1 billion, bringing the total reduction to $4.6 billion through the first nine months of 2009, and exceeding the full-year target of $4 billion   
  
• A strong product lineup drove market share gains in North America, South America and Europe as well as continued improvements in transaction prices and margins 
  
• Ended the quarter with $23.8 billion of Automotive gross cash, up $2.8 billion from the end of second quarter 2009++ 
  
• Achieved positive Automotive operating-related cash flow of $1.3 billion for the third quarter, a $2.3 billion improvement over the second quarter 
  
• Ford Credit reported a pre-tax operating profit of $677 million, a $516 million improvement from a year ago 
  
• Ford now expects to be solidly profitable  in 2011, excluding special items, with positive operating-related cash flow

Financial Results Summary	Third Quarter		First Nine Months
	2009	O/(U) 2008	2009	O/(U) 2008
Wholesales (000)+	1,232	57	3,377	(891)
Revenue (Bils.) +	$       30.9	$       (0.8)	$       82.9	$     (26.2)
Operating Results +
Automotive Results (Mils.)	$        446	$     3,385	$   (2,493)	$        523
Financial Services (Mils.)	661	502	1,194	1,305
Pre-Tax Results (Mils.)	$     1,107	$    3,887	$   (1,299)	$    1,828
After-Tax Results (Mils.)+++	$        873	$     3,882	$   (1,557)	$     2,381
Earnings Per Share +++	$      0.26	$      1.58	$     (0.54)	$      1.22
Special Items Pre-Tax (Mils.)	$        108	$   (2,099)	$     3,265	$     9,484
Net Income/(Loss) Attributable to Ford
After-Tax Results (Mils.)	$        997	$     1,158	$     1,831	$   10,619
Earnings Per Share	$       0.29	$      0.36	$      0.61	$      4.55
Automotive Gross Cash (Bils.) ++	$       23.8	$         4.9	$       23.8	$         4.9

Click on, or paste the following link into your web browser, to view the associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/7785B_1-2009-11-2.pdf

 

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