Ford Motor Company has just released its first quarter earnings, and the results further suggest the Blue Oval’s financial health, especially domestically. Ford reported a pre-tax profit of $2.1 billion in the first quarter, with the U.S. market leading the way. This marks 15 consecutive months of profitability, and 12 consecutive months of positive cash flow.
While the U.S. market experienced renewed growth, the European and South American markets continued to present challenges for Ford amid economic uncertainty. Ford reported a loss of $462 million in Europe, and $218 million in South America. In October 2012, Ford announced a European transformation plan, and says some of the losses can be accounted for in restructuring costs, and were expected. The Asia Pacific Africa region was essentially unchanged, with Ford reporting a profit of $6 million.
“We continue to expect 2013 to be another strong year, as we go further in strengthening our global product lineup and improving the competitiveness of our operations,” Ford CEO Alan Mulally said. “Everyone at Ford remains laser focused on continuing to make progress on our One Ford plan and building a profitably growing Ford for the benefit of all our stakeholders.”
Ford has been diversifying its product lineup, and has increased the availability of its more fuel efficient EcoBoost engines. Ford is also expected to launch highly its anticipated, revised versions of its F-Series pickup trucks next year.