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2017/11/17 14:14:33 source:lu futures author:anonymous

ford recently announced its third quarter 2017 results which were primary driven by its all-aluminium f-150 pickups sale. the company reported a profit of $1.6 billion, an increase of 63% yoy. on a per share basis, the dearborn automaker earned of 39 cents per share, beating the 33 cents per share average, based on a wall street analysis and up from 26 cents per share last year.

the better-than expected results were driven by higher revenue from sales in north america, especially in the truck and suv segment, led by ceo jim hackett. the company has experienced higher profits generated by its f-series pickups in the u.s., canada and mexico. the average f-series truck that was sold for $23,000 more than a year ago or at $45,400 in september has been generating huge revenue for the company. ford reports growing demand for the most expensive packages of f-150 super duty trucks — lariat, king ranch and platinum and the raptor performance version.

ford's global revenue increased 1% to $36.5 billion during the third quarter and its pre-tax profit jumped 40% to $2 billion. ceo hackett reported solid cash flow and bigger profits on the nation’s most popular pickup truck.

"this quarter demonstrates that our team's focus on fitness is showing early promise. but we also know that we must accelerate that progress in the near-term, while taking the necessary steps to fundamentally redesign our business operations to be more fit for the long term," hackett said.

cfo bob shanks said in his morning analysis, "it was a solid quarter, a good quarter. we've seen profitability in growth, profitability and cash flow."

north america continues to generate most of the profit for ford, posting ebitda of $1.7 billion, up about $400 million, or 33%, over the same period of 2016. the company posted a pre-tax loss of $86 million in europe and a profit of $289 million in the asia pacific region, up from $131 million from the same period of 2016. ford reported loss in south america in the middle east and africa.

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