Color me shocked. I am totally amazed. While Ford made money last quarter, their plan didn’t really work. Their plan to cull the assembly line workers with buyouts and such fell short, but they still made money.
Ford Motor Co. surprised Wall Street on Thursday with a $100 million profit in the first quarter as strong results from Europe and South America helped offset the impact of a slumping U.S. economy that cut car and truck sales in its main market.
The company also said Thursday its latest round of early retirement and buyout offers netted 4,200 hourly workers, fewer than Ford had targeted.
Ford says it earned 5 cents per share in the January-March period. The No. 2 U.S.-based automaker lost $282 million, or 15 cents a share, in the same period last year.
That is quite a turnaround. While the rest of the year will be quite a challenge, they must be commended for turning things around.
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