Bulletin: Ford Motor Co. First-Quarter Earnings Announcement Consistent With BB-/Positive/-- Rating
- ID: 1714350
- April 2011
- Standard & Poors
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Research type: News
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NEW YORK (Standard & Poor's) April 26, 2011--Standard & Poor's Ratings Services said today that it views Ford Motor Co.'s (BB-/Positive/--) first-quarter earnings, announced today, as consistent with its positive outlook on the company's rating. The automaker announced a consolidated pretax profit of $2.8 billion for the first quarter, up about $827 million year over year. Ford's global automotive operations produced $2.1 billion in pretax profit in the quarter (up $936 million year over year) despite market share declines in most regions, while the financial services unit, including Ford Motor Credit Co. LLC, posted $706 million in pretax profit (down $109 million). The automotive operating results are a significant improvement sequentially from the fourth quarter for North America and Europe....
Companies mentioned in this report are: Ford Motor Co.