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.
