Ford Motor Company

DETROIT, MI (AP)--   Ford Motor Co. has surprised Wall Street by posting a $1.12 billion second-quarter net profit due to gains on its stake in the Argo AI autonomous vehicle operation. 

Without the $3.5 billion gain, the company lost $1.9 billion before taxes, or a 35 cents per share. That beat Wall Street expectations of a $1.17 per-share loss.

A year ago, Ford posted a $148 million net profit. Revenue was down by about half from a year ago to $19.37 billion, which narrowly beat estimates, according to FactSet.

 

DEARBORN, MI (AP)--   Ford Motor Co.'s profit last year plunged by more than $3.6 billion, weighed down by slowing U.S. sales, the cost of a botched SUV launch and some big pension expenses. 

The Dearborn, Michigan, automaker said it made $47 million in 2019, down from a $3.68 billion profit a year earlier.

DETROIT, MI (AP)--   Ford Motor Co. is adding 3,000 jobs at two factories in the Detroit area.

It's also investing $1.45 billion to build new pickup trucks, SUVs, and electric and autonomous vehicles.

The company says about $750 million will go the Michigan Assembly Plant in the Detroit suburb of Wayne. The factory will get 2,700 new jobs during the next three years. Another $700 million will be invested in the truck plant in Dearborn, where 300 new jobs will be added.

Hiring will begin next year, and the jobs on average will pay about $61,000 a year.

DETROIT, MI (AP)--   Ford is almost finished with a major global restructuring and by the time it ends in August the automaker will have shed 7,000 white-collar jobs. 

The company said Monday that the plan will save about $600 million per year by eliminating bureaucracy and increasing the number of workers reporting to each manager.

The cut amounts to 10 percent of Ford's global salaried workforce.

In the U.S. about 2,300 jobs will be cut through buyouts and layoffs. About 1,500 already have happened. About 500 workers will be let go this week.

DETROIT, MI (MPRN)--   Ford Motor Company’s stock fell to its lowest point since 2012 this week. 

Detroit’s three automakers all spent part of the day Wednesday with their stocks in freefall.

Ford’s stock fell more than 3 percent on Tuesday, and the market volatility followed General Motors and Fiat Chrysler into Wednesday, as well.

A representative from Ford says they are restructuring their business, and they expect the market will recognize the company’s progress over time.

DEARBORN, Mich. (AP) — Ford Motor Co.'s net income fell by 35-percent to $1.6 billion in the first quarter as results were hit by costly recalls, lower sales and rising prices for steel and other materials.
       Without one-time items, including a gain from the closure of a planned plant in Mexico, Ford earned 39 cents per share. Wall Street expected earnings of 35 cents per share, according to analysts polled by FactSet.

DETROIT, MI (AP)--   Ford Motor Co is recalling more than 36,000 vehicles in the U.S. and Canada because their air bags may not inflate properly. 

The recall affects the 2016-2017 Ford Edge, 2016-2017 Lincoln MKX and 2017 Lincoln Continental. Most are in the U.S. but around 4,300 are in Canada.

The air bags were made by Japanese supplier Takata Corp., but they don't have the same deadly problem that has led to a recall of millions of Takata air bags.

In that case, air bags can inflate with too much force and spew shrapnel at occupants.

DETROIT, MI (AP)--   Ford Motor Co.'s net income fell 56 percent to $957 million in the third quarter as the company struggled with a massive recall and the launch of its new Super Duty pickup. 

The earnings, of 24 cents per share, compared to earnings of 55 cents per share in the July-September period a year ago.

Ford's adjusted earnings of 26 cents beat Wall Street's forecast of 20 cents per share, according to analysts polled by FactSet.

Revenue fell 6 percent to $35.9 billion. Ford's sales fell 4 percent to 1.5 million vehicles worldwide.

DETROIT, MI (AP)--   Ford Motor Company will receive funding from the U.S. Department of Energy as part of an initiative to advance fuel cell and hydrogen technologies.  

U.S. Representative Debbie Dingell of Michigan announced the funding Thursday in a release.

The Energy department is awarding about $6 million to Ford and the Los Alamos National Laboratory in New Mexico for projects supporting research and development advancements to reduce the country's dependence on foreign oil and cut harmful carbon emissions.

DETROIT, MI (AP)--   Ford Motor Co.'s net income fell 9 percent to $2.0 billion in the second quarter as the company struggled with flattening U.S. sales and lower sales in China.

The profit, of 52 cents per share, compared to a profit of 54 cents per share in the April-June period year ago. That missed Wall Street's expectation of a 60-cent profit, according to analysts polled by FactSet.

Revenue was up 6 percent to $39.5 billion, beating analysts' expectations. Ford sold 1.7 million vehicles during the quarter, which was flat from a year ago.

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