According to JP Morgan analysts, FoMoCo could report a surprise third-quarter profit when it reveals earnings next week along with an operating profit in its struggling North American division.
“This would be the first time North America is not in the red in recent memory,” said superstar JP Morgan analyst Himanshu Patel. “The quarter does look really good.”
Patel said that throughout the year Ford has gain respect from consumers since it was the only Michigan automaker to not ask the government for a federal loan. According to Autodata Corp., Ford gained a full point of U.S. market share even while it cut incentive spending on its vehicles.
JP Morgan said that Ford is likely to achieve a profit of 16 cents per-share for the three months ending Sept. 30th. The estimate, which would translate into about $515 million.
– By: Stephen Calogera
Source: Free Press