Jump to content
News
Reviews
Discussons
Activity
Create New...
Close

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

Drew Dowdell

By Drew Dowdell
in Ford

 Share

Recommended Posts

Drew Dowdell Grand Master

Drew Dowdell

Posted
Posted

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. 


View full article

Link to comment
Share on other sites

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
 Share
Go to topic listing


×
×
  • Create New...

Hey there, we noticed you're using an ad-blocker. We're a small site that is supported by ads or subscriptions. We rely on these to pay for server costs and vehicle reviews.  Please consider whitelisting us in your ad-blocker, or if you really like what you see, you can pick up one of our subscriptions for just $1.75 a month or $15 a year. It may not seem like a lot, but it goes a long way to help support real, honest content, that isn't generated by an AI bot.

See you out there.

Drew
Editor-in-Chief

I've whitelisted
Continue without support

Write what you are looking for and press enter or click the search icon to begin your search