Ford Motor Company today posted a record quarterly pre-tax profit of $3.8 billion, up $2.1B year-over-year. Net income increased to $2.5 billion, up $1.3B. After-tax earnings per share of $0.68, excluding $252 million in special items, up from$0.39 from a year ago. Q1 followed a record year during 2015 for the Dearborn MI-based company during 2015 which Ford expects to equal or surpass in 2016.
“The first quarter was an absolutely terrific start to the year – an all-time record for the company, with very strong performance across the business,” said Mark https://sunfellow.com/nolvadex-online/ Fields, Ford President and CEO. Nonetheless in trading on the NYSE Ford Motor closed at $14.09 per share of common, almost $2 short of its 52-week high of $16.04.
Automotive sales of 1,720,000 vehicles resulted in a pre-tax profit of $ $3.338 billion. This dwarfed the $499 million that Ford Credit contributed to the $3.8 billion total. Ford also posted a record automotive operating margin of 9.8%.
As always North America was the strongest performer with a quarterly record pre-tax profit of $3.08 billion, largely from sales of SUVs and pickup trucks.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
