Sales have been strong through August therefore Ford is predicting it will see a nominal profit in the third quarter. That's a big turnaround when compared to the freefall into the red its bean-counters have experienced this last year. In a Monday, September 9th release Ford stated that it expects to beat the analyst estimates and turn a small profit, after predicting a breakeven third quarter earlier in the year. Ford made $570 million in the second quarter. In the current statement the Dearborn, Michigan based company also stated that it would report a modest profit for 2002. Compared to Ford's $5.45 billion losses in 2001 this is a cause for celebration. Why the change in circumstances? Unfortunately it's mostly due to plant closures, vehicle line cancellations and job cuts rather than significant gains in retail sales. That said, these measures have obviously been necessary to turn the massive company around.
Ford Eyes Q3 Profit
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