Wandering with Reckless Abandon

Ford Motor Company today reported a net profit of 31 cents per share, or $750 million, for the second quarter of 2007. This compares with a net loss of 17 cents per share, or $317 million, in the second quarter of 2006.

Ford’s second-quarter revenue was $44.2 billion, up from $41.9 billion a year ago. The increase primarily reflected currency exchange, mix and net pricing improvements, partially offset by lower volume. Ford’s second-quarter profit from continuing operations, excluding special items, was 13 cents per share, or $258 million, compared with a loss of 6 cents per share, or $118 million, in the same period a year ago.

Special items – which primarily reflected the sale of Aston Martin and the recognition of previously deferred gains on certain hedges at Jaguar and Land Rover – increased pre-tax results by $443 million in the second quarter.

With regard to Jaguar and Land Rover, the company confirmed it is currently exploring in greater detail the potential sale of the combined business and is in discussions with selected parties who have expressed interest. The company also is conducting a strategic review of Volvo that likely will conclude prior to year-end.

Now, I am not one to take undeserved credit for the turn around of a major corporate entity, but the company DID start to make massive improvements after having only spent eight months working for them… A card from Allan Mulally would be nice.

On a slightly related note, July sales have been a little off… I am currently sitting at 5 cars, with four selling days left before the month ends. If you are looking for a car, now is the time to buy, because I am a little antsy, and have four days to sell seven cars. Any takers?