Ford's Q1 earnings slip 7%, missing Wall St. estimates - USA TODAY
Ford still does not have a full supply of the profitable F-150 full-size pickup and that was reflected in first-quarter earnings down almost 7% from a year ago when truck plants were still stamping metal and printing money. The automaker lost money in Europe and South America and while North America was profitable, there was more money to be made if it were not for launch costs and lost production at key plants that were down to prepare to make new models, said Chief... "The first quarter was a good start to the year," said CEO Mark Fields in a call with analysts where he explained that the product launches will pay off in the second half of the year. In the the first three months of the year, North American operations earned $1. 3 billion, below last year's $1. 5 billion, and the region's operating margin dipped to 6. 7%. Shanks said F-150 volume was down more than 40%, or 60,000 units from a... Shanks said full volumes of the two vehicles would have increased revenue by another billion dollars, and North America would have had an operating margin of about 10%. He is confident Ford will end the year with an operating profit in North... Source: www.usatoday.com
