Another Ford Flub: Fool by Numbers

On Oct. 20, Ford (NYSE: F  ) released earnings for its 2005 third quarter, which ended Sept. 30.

  • Net loss per share excluding special items was $0.10, or one penny worse than the Street consensus. Makes you wonder what executives are so optimistic about, eh?

  • This is Ford's first quarterly net loss in more than two years. The biggest contributor was Ford's ailing auto business, which posted a $1.3 billion pre-tax loss, more than double the $609 million loss posted in last year's Q3.

  • The finance team couldn't cover this time, either, as operating margins were nearly cut in half. Ouch.

(Figures in millions, except per-share data)

Income Statement Highlights(What's this?)

Avg. Est.

Q3 2005

Q3 2004

% Change

Sales

$32,040

$40,856

$39,121

+4.4%

Net Profit

--

$(284)

$266

NA

EPS

$(0.09)

$(0.15)

$0.15

NA



Margin Checkup(What's this?)

Q3 2005

Q3 2004

Change

Gross Margin

17.93%

20.87%

-2.94%

Op. Margin

-3.28%

6.32%

-3.03%

Net Margin

-0.70%

0.68%

-1.38%



Balance Sheet Highlights(What's this?)

Assets

Q3 2005

Q3 2004

% Change

Cash+ ST Invest.

$36,814

$28,998

+27%

Inventory

$11,687

$10,981

+6.4%

Accounts Rec.

$97,042

$115,351

-15.9%



Liabilities

Long-Term Debt

$141,738

$164,707

-13.9%

Accounts Pay.

$22,991

$22,399

+2.6%



Cash Flow Highlights(What's this?)

Q3 2005

Q3 2004

% Change

Cash From Ops

$20,103

$19,887

+1.1%

Capital Expend.

$5,462

$4,896

+11.6%

Free Cash Flow

$14,641

$14,991

-2.3%



Related Companies:

  • BMW (OTC BB: BAMXF.PK)
  • DaimlerChrysler (NYSE: DCX  )
  • General Motors (NYSE: GM  )
  • Honda (NYSE: HMC  )
  • Nissan (Nasdaq: NSANY  )
  • Toyota (NYSE: TM  )

Related Foolishness:

Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so checkFool.comfor more of our in-depth discussion of what the numbers mean.

The Motley Fool has kicked off its ninth annual Foolanthropy campaign! Nominate your favorite charities on ourFoolanthropy discussion boardthrough Nov. 1. For guidelines on what makes a charity Foolish, visitwww.foolanthropy.com.

Fool contributorTim Beyersdidn't own shares in any of the companies mentioned in this story at the time of publication. You can find out what is in his portfolio by checking Tim's Foolprofile. BMW is aMotley Fool Stock Advisorrecommendation. The Motley Fool has an ironcladdisclosure policy.


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