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Drew Dowdell

Ford News: Ford's Q2 Net Income Fell 86 Percent on One Time Charges

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Ford's second quarter 2019 income fell 86 percent to just $148 million.  The result is largely due to one-time charges related to its restructuring of operations globally.  Excluding the one-time items, Ford's income before interest and taxes fell just 2% to $1.65 billion.  Global revenue was flat year over year at $38.9 billion.

The charges are primary caused by plant closures in Europe and South America. Ford has said it would cut 12,000 jobs in Europe by the end of 2020.  Ford's sales in the US have fallen 7 percent, including a large decline in Ford Explorer sales as the company moves the nameplate to a new rear wheel drive platform. Ford CEO Jim Hackett said that the changover was a "bigger endeavor" than overhauling the F-150 to an aluminum body. 


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1 hour ago, Drew Dowdell said:

"bigger endeavor" than overhauling the F-150 to an aluminum body. 

That's pretty damn big because I remember reading about that being a pretty insane project itself. 

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One-time charges aside, Ford will do fine.  No real worries here.

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26 minutes ago, riviera74 said:

One-time charges aside, Ford will do fine.  No real worries here.

Indeed... this should put them in an even stronger position.

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      2019               2018

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      107,491

       

       

      -41.0

       

       

      349,091

       

       

      486,024

       

       

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      330,075

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      7,315

       

       

      15,212

       

       

      -51.9

       

       

      60,148

       

       

      51,730

       

       

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