Pistons are firing on all cylinders for the Ford Motor Co., reports Automotive News. The numbers Ford Motors is expected to reveal Jan. 28 should tell a fairytale story of earnings, where 2010 was the best year in ten years for the automaker. That would be the 2nd profitable year in a row under the guidance of CEO Mulally. Resource for this article – Ford Motor Co. posts highest profits in 10 years by Car Deal Expert.
About 48-cents per share is what the Ford Motors ‘money machine’ makes
The $30.57 billion fourth-quarter revenue that Ford had shows a 48 cents per share profit before taxes, reports a Thomas Reuters survey. Revenue for fourth quarter would be about $1.7 billion with that rate. Ford totaled the year with an $8 billion revenue to report. Also in 2010, the company reported the best three quarters opening since 1998 with $6.37 billion
Automotive News accounts that a return of $2.72 billion was what the annual net profit was in 2009 for Ford Motors which came from total revenue of $118.31 billion. The business is doing well because of Ford Motors vehicle quality, Mulally explained. J.D. Power & Associates ranked Ford among the best mass-market brands recently. Overall within the J.D. Power survey, Ford Motors got fifth behind Porsche.
"Ford is building better cars since (Mulally) came in," said fund manager Gary Bradshaw of Dallas-based Hodges Capital Management, which owns 100,000 common and 100,000 preferred shares of Ford stock. "He’s just making this company a money machine."
Ford Motors never took TARP money
Since Ford Motors didn't accept any Troubled Asset Relief Program money like both General Motors and Chrysler did, a lot of consumer confidence has been put into the company. "The world's largest home-equity loan," as Alan Mulally put it, was what was done in 2006 for Ford Motors to continue. About $23 billion in private loans were received with leveraging assets. The automaker has debt it is dealing with nevertheless. However, consumers continue to flood the gates to buy vehicles.
CEO Alan Mulally on Ford’s direction in 2011