Ford Swings to Quarterly Profit of $868 Million as Cost-Cutting Kicks In (F)
1/28/2010-Ford (NYSE:F) reported Q4 EPS of $0.43, ex-items, topping consensus estimates of $0.26.
Sales in the quarter rose 22% year-over-year to $35.4 billion, and came in ahead of consensus estimates of $32.6 billion.
Total vehicle wholesales in the fourth quarter were 1,440,000 units, compared with 1,139,000 units a year ago.
The automaker offered the following forward looking statements;
"Ford says that it plans to be profitable for full year 2010 on a pre-tax basis excluding special items, for North America, total Automotive and total company, with positive Automotive operating-related cash flow, based on its assumptions."
"Ford expects U.S. full year industry sales will be in the range of 11.5 to 12.5 million units, including medium and heavy trucks. For the 19 markets Ford tracks in Europe, the company expects full year industry sales will be in the range of 13.5 to 14.5 million units, including medium and heavy trucks."
"The company said it expects its full year U.S. total market share and its share of the U.S. retail market to be equal or improved compared with 2009. Europe market share is expected to be about equal to 2009."