Ford Motor Company reported Q2 net income of $1.9 billion, an increase $574M or 44% compared to one year ago. After-tax earnings per share of 47 cents were up 7 cents from a year ago, excluding last year’s special item charges.
It was Ford’s best automotive quarterly profit since 2000.
The positive results came from record pre-tax quarterly profits in North America ($2.6 billion) and in Asia Pacific ($192 million). Ford Credit helped with a pre-tax profit of $506 million. Europe and the Middle East and Africa continue to post loses. Global market share was flat at 7.6%, up one-tenth of a percentage point from a year ago.
Ford Motor reconfirmed its 2015 pre-tax profit guidance of $8.5 billion to $9.5 billion, with higher Automotive revenue, operating margin and operating-related cash flow
compared with 2014.