Ford Earns 61 Cents Per Share

Excellent quarter for Ford ($F). The company made 61 cents per share which was 11 cents more than Wall Street’s consensus. This was Ford’s best profit in 13 years. The stock looks to open close to $16 per share this morning.

Ford earned $2.6 billion in the first three months of 2011, a 22.4% improvement over a year earlier, as U.S. sales increased on the strength of small and midsize cars and cost-cutting in Europe resulted in a modest operating profit.

The Dearborn automaker’s net income of 61 cents per share beat the 50 cents per share consensus forecast of about 20 Wall Street analysts and marked Ford’s most profitable first-quarter in 13 years. In 2010’s first quarter Ford made $2.1 billion, or 46 cents per share.

Revenue increased 18% to $33.1 billion from $28.1 billion a year earlier.

“Our team delivered a great quarter, with solid growth and improvements in all regions,” said Alan Mulally, Ford president and CEO. “We continue to accelerate our One Ford plan around the world.”

Other good news is that the earthquake in Japan will have a very minor impact on Ford’s finances.

Posted by on April 26th, 2011 at 8:31 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.