Thursday, October 2nd12.3°C
22738

Ford honks horn with $1.63B profit

Ford's third-quarter profit eased 1 per cent to $1.63 billion as European losses swamped record North American profits.

Ford Motor Co. said Tuesday its per-share net income was 41 cents, unchanged from the July-September period a year earlier. Before special items, it earned 40 cents, beating Wall Street's forecast of 30 cents, according to analysts polled by FactSet.

Ford's revenue fell 3 per cent to $32.1 billion as vehicle sales dropped in Europe and South America. The company exceeded Wall Street's revenue forecast of $31.5 billion largely because of North America, where revenue jumped 8 per cent to $19.5 billion thanks to higher pricing and strong sales of higher-margin trucks and SUVs.

Dearborn-based Ford earned a record $2.3 billion in North America. Chief Financial Officer Bob Shanks noted that this was the third quarter in a row that the company has made more than $2 billion in the region and reported an operating margin of 10 per cent or more. Ford's North American operating margin was 12 per cent in the third quarter, up from 8.6 per cent a year earlier.

"To me the story isn't just the results but the consistency of the results," he said.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX14805.44-155.069
S&P CDNX896.35-12.94
DJIA16804.71-238.19
Nasdaq4422.085-71.305
S&P 5001946.16-26.13
CDN Dollar0.8987+0.0031
Gold1214.40-1.10
Oil86.79-2.32
Lumber344.10+6.30
Natural Gas4.044+0.021

 
Okanagan Companies
Pacific Safety0.135+0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.22-0.04
Cantex0.075+0.01
Anavex Life Sciences0.1804-0.0036
Metalex Ventures0.0550.00
Russel Metals34.68+0.11
Copper Mountain Mining2.29-0.13
Colorado Resources0.16-0.005
ReliaBrand Inc0.019-0.001
Sunrise Resources Ltd0.065+0.045
Mission Ready Services0.31-0.01

 





FEATURED Property
17968578 - 4524 Eldorado Court, Kelowna, bC
5 bedrooms 6 baths
$3,295,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Power-save your way to a down payment

Part 2 of 2 to read Part 1, click here. 5. Dial down your vacations. New York is out. Maybe Buffalo. For West coast, maybe Seattle instead of Hawaii. Use sites like Airbnb (aribnb.ca) to find ch...


A wildly successful manufacturer

Niche food producer “Sweets from the Earth” thrives using innovation, uniqueness and an unwavering focus on quality. A neighbour’s stew turned Ilana Kadonoff off meat at the age of s...


Finding the smart money

Recently I had the privilege of working alongside André Voskuil, a local guru in the world of Alternative Financing. André has quite the reputation in the world of direct investments as ...

_








Member of BC Press Council


23266