Category Archives: financial results

Ford Motor Declares Q3 Dividend

Posted on 11 July 2014 by Ken Zino

The Board of Directors of Ford Motor Company declared a Q3 dividend of $0.125 per share on the company’s outstanding Class B – controlled by the family – as well as shares of common stock. Continue reading →

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GM to take $700 Million Charge for Q2 Safety Recalls

Posted on 16 June 2014 by Ken Zino

GM said today in an SEC filing that it expects to take a charge of up to $700 million in the second quarter for the cost of recall-related repairs announced. This amount includes a previously disclosed $400 million charge for recalls announced May 15 and May 20. Continue reading →

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Oops! Chrysler Group Posts Q1 Loss of $690 Million Because of UAW Buyout. Income, Revenue, Cash Flow Increase

Posted on 19 May 2014 by Ken Zino

Chrysler Group reported net loss of $690 million for Q1 because of $1.2 billion in charges for the UAW buyout, which allowed Fiat to takeover complete control of Chrysler. Continue reading →

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Ford Motor Q1 Pre-Tax Profit $1.4 Billion. Net $989 Million. Both Down

Posted on 25 April 2014 by Ken Zino

Ford Motor Company today posted decidedly mixed results as its warranty costs, older products, increased competition and special items led to a Q1 pre-tax profit of $1.4 billion, a decrease of $765 million compared with a year ago. Q1 net income is $989 million, or 24 cents per share, a decrease of $622 million compared with a year ago, including pre-tax special item charges of $122 million. Continue reading →

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Switched Off! GM Q1 Earnings Plummet to $100 Million

Posted on 24 April 2014 by Ken Zino

General Motors Co. (NYSE: GM) today announced Q1 net income only $100 million, or $0.06 per diluted share. Q1 was a disaster with its net loss from special items of $400 million, or $(0.23) per diluted share, and a whopping $1.3 billion pre-tax charge for the cost of recall-related repairs, or $(0.48) per diluted share – a negative $1.7 Billion swing. Continue reading →

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Toyota Motor Production 2.6 Million in Japanese Q4.

Posted on 24 April 2014 by Ken Zino

Toyota Motor posted strong results in its latest quarter with the fifth consecutive year of offshore production increases – a record high – with an ongoing and growing manufacturing presence in North America, Latin America, Europe, Asia and Oceania. Continue reading →

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GM Files $750 Million Q1 Earnings Charge with SEC

Posted on 1 April 2014 by Ken Zino

The three-quarters of a billion dollar expense to stockholders includes yesterday’s safety recall of electric power steering assist affecting approximately 1.3 million vehicles and other safety recalls announced in the three months ending 31 March 2014. Continue reading →

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Volkswagen Group Sets Third Straight Record Profit in 2013

Posted on 24 February 2014 by Ken Zino

A combination of new products, technology, acquisitions – Porsche, Ducati, and MAN – and plant expansions, especially in China, continues to give credence to VW’s announced intention to be the world’s largest automaker by 2018. It is now in third place behind Toyota and General Motors, so the Big Three in the business are from three different continents. Continue reading →

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Tesla Loses Money Again During 2013. Stock Market Bullish

Posted on 21 February 2014 by Ken Zino

The darling of automotive stock speculators electric vehicle maker Tesla posted a yearly loss of -$74 million on revenue of more than $2 billion during 2013, compared with a -$396.2 million loss on $413.3 million in sales in 2012. The stock is trading at record levels of above $200 per share given the revenue increase, and with the company promising to increase it yet again during 2014. Continue reading →

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Chrysler Group Borrows $5 Billion to Pay off UAW VEBA Debt

Posted on 14 February 2014 by Ken Zino

Before the bankruptcy, the UAW had previously – and reluctantly – accepted the notes to cover the health care costs of its retired members. This was a classic, many would say infamous, example of financial engineering under the Wall-Street-owned Bush Administration that removed union health care costs from the balance sheets of Chrysler, Ford and General Motors with a slight of hand trick. Continue reading →

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Ford Motor Earns $1.3 Billion in Q4, $8.6 Billion during 2013

Posted on 28 January 2014 by Ken Zino

Ford Motor Company [NYSE: F] today reported that Q4 pre-tax profit was $1.3 billion, a decrease of $402 million compared with 2012. However, Q4 earnings per share at 31 cents were the same as a year ago. Ford has posted … Continue reading →

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Fiat Buys Out the UAW Equity in Chrysler Group

Posted on 21 January 2014 by Ken Zino

Fiat S.p.A. through its wholly owned subsidiary, Fiat North America, today completed its previously announced acquisition of all of the UAW VEBA Trust’s equity in the Chrysler Group. This means that Chrysler Group is now a wholly owned subsidiary of Italian Fiat with considerable help from U.S. taxpayers who financed the 2009 reorganization of the bankrupt company. Continue reading →

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GM Declares 30 Cent Quarterly Stock Dividend

Posted on 14 January 2014 by Ken Zino

General Motors Company Board of Directors today declared a quarterly dividend of 30 cents per share on its common stock. The dividend is payable 28 March 2014 to all common stockholders of record as of 18 March 2014. The last time GM paid a dividend on common was in the pre-bankruptcy days of 2008. Continue reading →

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Ford Cuts 2014 Earnings Outlook. Warranty Costs Hurt 2013

Posted on 18 December 2013 by Ken Zino

In a sense, 2014 is an investment year that will hurt returns short term, but is necessary to keep Ford competitive going forward. Overall, FMC will launch 23 new vehicles globally, with 16 launches in North America, it’s only solidly profitable region. Since these North American freshenings will cover a significant percentage of the region’s volume, Ford said that it now expects sales next year to be lower, even as the region grows by roughly one million units or more in total. Continue reading →

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Chevy’s European Exit Cost to GM More than $1 Billion

Posted on 16 December 2013 by Ken Zino

While the dropping of Chevrolet as a mainstream brand in Eastern and Western Europe by 2016 is a good strategic move for GM, the retreat will be costly to shareholders. GM estimates that it will take special charges of $700 million to $1 billion primarily in Q4 of 2013 and continuing through the first half of 2014. Continue reading →

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