Ford Brings In The Q1 Bacon
April 26th, 2011 5:19 PM Share
Ford beat expectations with a first quarter 2011 net income of $2.6 billion, an increase of $466 million from the first quarter 2010. First quarter 2011 pre-tax operating profit was $2.8 billion. Ford Credit contributed $713 million to the pre-tax operating profit.
J.P. Morgan analyst Himanshu Patel called the Ford Credit results “unsustainable.” Patel had expected $428 million. He thinks the number reflects stronger-than-expected lease residuals. Which is good news if you own a Ford and want to sell it.
With a pretax operating profit of $293 million in Europe, Ford solidified its position in the Old Country. Ford reduced its debt by $2.5 billion in the quarter to $16.6 billion.
Published April 26th, 2011 5:04 PM
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Thumbs up to the Blue Oval Boys.
Hold the party. Wall Street was not impressed with Ford. Stock closed up a big twelve cents today. If Wall Street is not impressed, neither should you.
Maybe investors are concerned about Ford being the likely UAW strike target and that these high earnings might not last. It's hard to get excited about investing in a car company with gas prices headed toward $5.00 with no relief in sight--we saw what happened in 2008.
Rebecca (I love the sound of my own voice) Lindland.....As Foghorn Leghorn would say,"I've seen better heads on a glass of root beer".