7th Nov 2008 18:27
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Media: |
Equity Investment |
Fixed Income |
Shareholder Inquiries |
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Bill Collins |
Community: |
Investment Community: |
1.800.555.5259 or |
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1.313.390.4866 |
Larry Heck |
Dave Dickenson |
1.313.845.8540 |
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1.313.594.0613 |
1.313.621.0881 |
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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
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Financial Results Summary |
Third Quarter |
First Nine Months |
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2008 |
O/(U) 2007 |
2008 |
O/(U) 2007 |
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Wholesales (000) ++ |
1,174 |
(313) |
4,266 |
(644) |
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Revenue (Bils.) ++ |
$ 32.1 |
$ (9.0) |
$ 110.1 |
$ (18.2) |
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Continuing Operations ++ |
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Automotive Results (Mils.) |
$ (2,906) |
$ (2,544) |
$ (2,924) |
$ (2,715) |
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Financial Services (Mils.) |
159 |
(397) |
( 111) |
(1,066) |
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Pre-Tax Results (Mils.) |
$ (2,747) |
$ (2,941) |
$ (3,035) |
$ (3,781) |
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After-Tax Results (Mils.) |
(2,977) |
(2,953) |
(3,846) |
(3,909) |
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Earnings Per Share ++++ |
(1.31) |
(1.30) |
(1.72) |
(1.75) |
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Special Items Pre-Tax (Mils.) |
$ 2,207 |
$ 2,557 |
$ (6,219) |
$ (6,199) |
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Net Income |
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After-Tax Results (Mils.) |
$ (129) |
$ 251 |
$ (8,696) |
$ (8,784) |
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Earnings Per Share |
(0.06) |
0.13 |
(3.89) |
(3.94) |
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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
Related Shares:
FDM Group