FDM Group Regulatory News (FDM)

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
	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
	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

 

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

 

 

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