Roads were shut and stern warnings were issued as the country experienced extreme weather conditions
Ford Motor Co. said Tuesday its per-share net income was 41 cents, unchanged from the July-September period a year earlier. Before special items, it earned 40 cents, beating Wall Street’s forecast of 30 cents, according to analysts polled by FactSet.
Ford’s revenue fell 3 percent to $32.1 billion as vehicle sales dropped in Europe and South America. The company exceeded Wall Street’s revenue forecast of $31.5 billion largely because of North America, where revenue jumped 8 percent to $19.5 billion thanks to higher pricing and strong sales of higher-margin trucks and SUVs.
U.S.-based Ford earned a record $2.3 billion in North America. Chief Financial Officer Bob Shanks noted that this was the third quarter in a row that the company has made more than $2 billion in the region and reported an operating margin of 10 percent or more. Ford’s North American operating margin was 12 percent in the third quarter, up from 8.6 percent a year earlier.
“To me, the story isn’t just the results but the consistency of the results,” he said.
The company lost $468 million in Europe, where sales have fallen sharply because of the troubled economy. Last week, Ford announced a plan to close three factories in Europe, where it expects to lose more than $1.5 billion both this year and next year.
Roads were shut and stern warnings were issued as the country experienced extreme weather conditions
The game’s rising stars and DP World Tour winners will be in action over the next four days at the Al Ain Equestrian, Shooting & Golf Club
In the video, the man can be seen scaling the roof of an SUV and smashing its glass roof
This directive has been issued after taking the current country-wide circumstances into account
USA Basketball confirmed a formidable 12-man roster bristling with NBA talent
Many walked for hours on end to get to safety, however, some were not able to return home until the next day