Ford Motor reports Q2 pre-tax profit of $2.6bn
Ford Motor Company announced 2014 second quarter pre-tax profit of $2.6bn, its 20th consecutive profitable quarter and its best since second quarter 2011. The company also affirmed its full-year pre-tax profit guidance of $7bn to $8bn as it continues to implement its One Ford plan to deliver profitable growth for all. The company’s pre-tax profit of $2.6bn, excluding special items, was $44m higher than a year ago. After-tax earnings per share were 40 cents, excluding special items, 5 cents below a year ago. Net income for the quarter was $1.3bn, or 32 cents per share, an increase of $78m, or 2 cents, from a year ago. Net income included pre-tax special item charges of $481m. Middle East & Africa, Ford’s newest business unit, was created to better serve customers and expand in this fast-growing region. Ford is intensifying its focus and targeting opportunities for growth in the small, mid-size and large vehicle segments.