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 Ford Posts Second Quarter 2014 Pre-Tax Profit of $2.6 Billion; North America, Asia Pacific, Middle East & Africa, Europe and Ford Credit Profitable; Net Income of $1.3 Billion+

DATE: Will be calculated from "Release Start Date" field.

Today, we are announcing that we delivered a 2014 second quarter pre-tax profit of $2.6 billion – our 20th consecutive quarterly profit and our highest quarterly profit since the second quarter of 2011. We also are affirming we are on track with our full-year total company profit guidance of $7 billion to $8 billion – in a year with an unprecedented number of global product launches and investing for our future.

North America, Asia Pacific, Middle East & Africa, Europe and Ford Credit all achieved profitability.

These results reflect the power of our One Ford plan and the strength of our global team. You can view our news release here, which describes our performance and our future outlook.

We are hosting our Global Town Hall at 7 a.m. EDT U.S. The earlier time is designed to ensure that we discuss our results with the Ford team first. We also are expanding the format of the town hall to not only discuss our financial results, but also review how we are building on the success of our One Ford plan by accelerating our pace of progress, delivering product excellence and driving innovation in all areas of our business.

Thank you for all you are doing, and congratulations to the entire team on a strong second quarter.

Mark


Ford Posts Second Quarter 2014 Pre-Tax Profit of $2.6 Billion; North America, Asia Pacific, Middle East & Africa, Europe and Ford Credit Profitable; Net Income of $1.3 Billion+

• Second quarter pre-tax profit of $2.6 billion, an increase of $44 million compared with a year ago; after-tax earnings per share of 40 cents, excluding special items; 20th consecutive profitable quarter

• Second quarter net income of $1.3 billion, or 32 cents per share, an increase of $78 million compared with a year ago; net income includes pre-tax special item charges of $481 million

• Year-over-year decline of 1 percent in wholesale volume and company revenue; market share higher in Asia Pacific, driven by record share in China

• All Automotive business units profitable and improved compared with a year ago, except for South America. Record quarterly profit in North America; record second quarter profit in Asia Pacific; first quarterly profit in Europe in three years

• Automotive operating-related cash flow of $2.6 billion, the 17th consecutive quarter of positive performance. Ford ended second quarter with Automotive gross cash of $25.8 billion, exceeding debt by $10.4 billion. Ford improves its outlook for operating-related cash flow due to its strong first half performance

• Ford Credit delivered solid results

• Ford affirms its 2014 pre-tax profit guidance of $7 billion to $8 billion in a period with an unprecedented number of global product launches. Ford expects the payoff from its investments this year will be a strong product lineup with higher volumes, revenue and margins in 2015 and beyond 

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7/24/2014 12:00 AM