Ford Motor Co. (F) Posts Q2 adj.-EPS of 40c

Ford Motor Co. (NYSE: F) reported Q2 EPS of $0.40, versus the analyst estimate of $0.38. Revenue for the quarter came in at $37.4 billion versus the consensus estimate of $38.13 billion.

All Automotive business units contributed to the company’s pre-tax profit and all improved from a year ago, except South America. North America achieved record quarterly performance for pre-tax profit, and Asia Pacific achieved a second quarter record. Europe earned its first quarterly profit since the market dramatically declined three years ago. Ford Credit delivered solid results.

Second quarter wholesale volume and company revenue declined 1 percent year-over-year. The company achieved higher market share in Asia Pacific, driven by record share in China.

“Our One Ford plan continues to deliver, enabling us to reach our 20th consecutive quarter of profitability,” said Mark Fields, president and CEO. “Moving forward, our commitment is to build on this success by accelerating our pace of progress, while delivering product excellence and driving innovation in all areas of our business.”

Ford’s Automotive operating-related cash flow was $2.6 billion in the second quarter, its 17th consecutive quarter of positive performance. The company ended the second quarter with Automotive gross cash of $25.8 billion, exceeding debt by $10.4 billion. The company completed its corporate credit facility amendment and maturity extension in the second quarter. The facility is now $12.2 billion, of which $2 billion has been allocated to Ford Credit. The company ended the quarter with Automotive liquidity of $36.7 billion.

For earnings history and earnings-related data on Ford Motor Co. (F) click here.

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