Bernie Woodall and Ben Klayman
DETROIT (Reuters) - reported Ford Motor Co its best quarterly profit since 1998 higher prices for vehicles including its small Fiesta revised more than pressure balanced starch raw materials and oil.
He better than expected profit Umsatzstarkstes the SUV boom was Ford's first quarter since the peak and soothed investors after a disappointing fourth quarter.
The results showed also the success that had the number two on the U.S. automakers in getting consumers more pay for the improvement of quality and technology in vehicles such as the focus compact.
Also on Tuesday, Ford said that it expected to break parts supplies from Japan with only a minimal impact on its production in Asia, riding set the manufacturer to market to take share from its Japanese competitors.
Shares, which was broken into 15 percent since late January, rose Ford by 2.3 percent to $15.90 in trading in the afternoon.
The Commons has almost won 10 times by early 2009, but skeptical analysts and investors were quoted higher cost engineering and disappointing results in Europe, as she down earlier this year marked the car manufacturers of the prospects.
Chief Financial Officer Lewis booth being reviewed that Ford full-year profit expected increases and said that correspond to the first quarter of the manufacturer on the way to the forecast.
"This is a good start in the year," reporters booth at Ford's headquarters in Dearborn, Michigan.
Ford is the leading manufacturer of trucks, but better balance with the roll-out of such cars as focus and Fiesta Chief Executive Alan Mulally has pressed. He has repeatedly said that Ford will use profit over market share in a break with the practice of the US car manufacturer in the last decades.
As Ford's first-quarter market share in North America, South America and Europe fell, the profit per vehicle in the domestic market rose more than 30 percent over the previous year to more than $2700.
Higher selling prices $900 million contributed to Ford's first-quarter pre-tax profit of $2.8 billion. Shown in contrast to commodity price pressures and other material costs increased a drag of 700 million dollars.
In the domestic market, Ford's average margins to $250 per vehicle a year earlier, rose said Edmunds.
HAPPY DEALERS
Mulally said buyers desire to shift more functions in cars helped himself as on smaller vehicles prices. In one example, he said, heated leather seats were one of the most popular options for the Fiesta.
Investors and traders has made happy to this success.
"Ford still market share to get." We expect that this trend continue, ", said Channing Smith Fund, which owns Ford stock co manager of capital advisors growth."
Mike Jackson, CEO of AutoNation, the largest US retailer group, said product quality was an important factor.
"There is los a Renaissance with Detroit product, which is the real deal.", he said.
Ford was the first U.S. based automaker report since the March earthquake in Japan and its results signaled that General Motors co said also share of Toyota Motor Corp., Nissan Motor Co Ltd and Honda Motor Co, Morningstar analyst David Whiston.
Ford's net income rose to $2.55 billion, or 61 cents per share, from $2.09 billion, or 50 cents a share, a year earlier. Excluding non-recurring effects deserves the average analyst forecast of 50 cents per share, topping according to Thomson Reuters I/B/E/S. 62 cents per share, simply
It was the seventh straight quarter of operating profit.
Revenues increased by $33.1 billion of 28.1 billion $ in the last year. Analysts had expected$ 29.7 billion.
Referred Mulally results in subsequent quarters of the year may be not as strong as those in the first quarter.
On a conference call with analysts, he said Ford was set up for what he called good a significant departure from large cars and trucks for smaller, more fuel-efficient vehicles.
CFO booth said 11 Japan had lost the March earthquake, Ford since the production of 12,000 to 14,000 vehicles in Asia, where it has closed several plants temporarily.
Short term losses are likely to again in the end of 2011 and 2012, Ford said. Production in Ford's business has not yet seen regions outside Asia much change.
For the first time Ford disclosed his planned Q2 global production figure of 1.46 million.
Mulally agreed that the industry slowly to sales in the summer, but he said, are used - and new car pricing improved can to tighten as stocks due to the Japan crisis.
Ford said that higher commodity prices can limit costs including oil and fuel growth for the rest of the year. It expects both raw material and operating costs without materials about $2 billion more than in the previous year.
J.p. Morgan analyst Himanshu Patel, in a research note, pointed to stronger than expected results for Ford credit, he called "unacceptable."
Ford credit earned $ 713 million in the first quarter on the basis of pre-tax. Patel had expected$ 428 million and stronger than expected performance at lease residuals credited.
Ford again shows his base in Europe in the first quarter, an operating pre-tax profit of 293 million dollars, up from $ 107 million a year ago. Ford had a loss of $51 million in Europe in the fourth quarter.
The company also reduced its debt by $2.5 billion in the quarter to $16.6 billion by all his preferred outstanding securities exchange. Ford had borrowed cause concerns about the investor $23 billion at the end of 2006 on his debt.
(Reporting by Bernie Woodall and Ben Klayman;) (Editing by Derek Caney and Matthew Lewis)
Copyright 2011 Thomson Reuters.
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