Ford Profit Tumbles 57% on Weakness in Europe
Ford Motor (NYSE: F) has just reported that its second-quarter net profit slid 57% to $1 billion, or $0.26 a share, as its operations in Europe and a higher tax rate offset strong results from North America. Revenue totaled $33.3…
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The company continued to generate positive Automotive operating-related cash flow, and it ended the period with a strong liquidity position of $33.9 billion. That was an increase of $1 billion during the quarter.
But Ford sales are faring worse than average in Europe. In the first half of this year, Ford’s European sales fell 10%, while industrywide deliveries were off 6.3%.
Ford also lowered its full-year profit forecast and its budget for capital spending.
Shares ended Tuesday at $9.06, and the 52-week trading range is $8.95 to $13.05.
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Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.
Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.
Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.
Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.
