US:CFO: Ford will make small N.A. profit in '09 - Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars
LinkBack Thread Tools Display Modes
post #1 of 1 (permalink) Old 11-14-06, 02:15 PM Thread Starter
Registered User
Stacy94PGT's Avatar
Join Date: Feb 2001
Location: The Hills of North Georgia,USA
Posts: 7,859
US:CFO: Ford will make small N.A. profit in '09

CFO: Ford will make small N.A. profit in '09

Amy Wilson | Automotive News

DETROIT -- Ford Motor Co.'s North American automotive operations will swing back to a profit in 2009, CFO Don Leclair reiterated today, but it will be a small one.

Leclair wouldn't specify the amount of profit expected in the North American business in 2009. But a chart presented in a Ford conference call today suggests the unit's pretax income will be quite modest.

One analyst questioning Leclair on the call described the bar representing 2009 results as just a "thin sliver of profits."

In a report written before the conference call, another analyst, Peter Nesvold of Bear Stearns, estimated the 2009 profit represented on the chart at around $250 million. By contrast, Ford's North American business reported a loss of $3.3 billion before taxes and special charges through the first nine months of 2006.

Leclair took pains to emphasize that Ford's North American profit recovery is a work in progress.

"We're trying to reflect our views of the uncertainties in the marketplace, so we're not going to be committing to a large profit level now," Leclair said of the 2009 projection. "We do recognize there are uncertainties on all fronts. We have put together plans we feel good about that will achieve profitability with an overall economic environment that's around 17 million light and heavy (vehicle) sales."

Cost-cutting to help drive the profit recovery will continue in 2009 and beyond.

"We're not stopping our cost reductions in 2008; we're not stopping our cost reductions in 2009," Leclair said. He was trying to clarify concerns that some outsiders have had about how the North American unit will reach profitability in 2009.

Ford says it will reduce its operating costs by $5 billion by the end of 2008. Leclair wouldn't estimate the amount of cost reductions expected for the balance of the decade.

Leclair was speaking on a conference call to explain restated financial statements filed by Ford today.

My first car was a 67 Mustang Coupe, 2nd one was a 67 Cougar XR-7, 3rd one was a 66 Mustang Coupe. Why did I get rid of these cars for ? I know why, because I'm stupid, stupid, stupid.

My next Ford.....
Stacy94PGT is offline  
Sponsored Links

  Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars > Fordforums Community > Latest Ford News and Racing News > Ford Worldwide News
Gear in this thread - Powered by O'Reilly Auto Parts

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode

Posting Rules  
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

For the best viewing experience please update your browser to Google Chrome