Last checked at 2 Nov 2009 13:33
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 |
| wcollin1@ford.com | 1.313.594.0613 | 1.313.621.0881 | stockinf@ford.com |
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| fordir@ford.com | fixedinc@ford.com |
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 | ||
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| 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) |
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| Operating Results + |
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| 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 |
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| After-Tax Results (Mils.)+++ | $ 873 | $ 3,882 | $ (1,557) | $ 2,381 |
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| Earnings Per Share +++ | $ 0.26 | $ 1.58 | $ (0.54) | $ 1.22 |
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| Special Items Pre-Tax (Mils.) | $ 108 | $ (2,099) | $ 3,265 | $ 9,484 |
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| Net Income/(Loss) Attributable to Ford |
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| After-Tax Results (Mils.) | $ 997 | $ 1,158 | $ 1,831 | $ 10,619 |
| Earnings Per Share | $ 0.29 | $ 0.36 | $ 0.61 | $ 4.55 |
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| Automotive Gross Cash (Bils.) ++ | $ 23.8 | $ 4.9 | $ 23.8 | $ 4.9 |
http://www.rns-pdf.londonstockexchange.com/rns/7785B_1-2009-11-2.pdf