Ford Motor Company (F)

[td31]

Ford Earns $2.4 Billion Net Income in Second Quarter 2011; Strengthens Foundation for Continued Global Growth


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•Second quarter net income was $2.4 billion, or 59 cents per share, a $201 million decrease from second quarter 2010. Pre-tax operating profit was $2.9 billion, or 65 cents per share, a decrease of $64 million from second quarter 2010.
•Automotive pre-tax operating profit was $2.3 billion for the second quarter, an increase of $209 million from second quarter 2010.
•Ford Credit reported a pre-tax operating profit of $604 million for the second quarter, a decrease of $284 million from second quarter 2010.
•Total Company revenue was $35.5 billion in the second quarter, up $4.2 billion from second quarter 2010.
•Ford generated positive Automotive operating-related cash flow of $2.3 billion in the second quarter.
•Ford continued to reduce Automotive debt with an additional $2.6 billion of net debt reductions in the second quarter as a result of payments on its term loans and full repayment of the outstanding balance on its revolving credit line.
•Ford ended the second quarter with Automotive gross cash of $22 billion, an increase of $700 million compared to March 31, 2011. Ford’s Automotive gross cash exceeded debt by $8 billion, an improvement of $6.6 billion during the first half of 2011.
•Ford ended the second quarter with $32.2 billion in total Automotive liquidity, an increase of $4.3 billion over the first half.
•For full year results, Ford plans to deliver continued improvement in pre-tax operating profit and Automotive operating-related cash flow compared to 2010.

More info at ford - has breakdown of each continent but pretty much saying higher costs hurt
http://corporate.ford.com/investors/investor-news/investor-news-detail/pr-ford-earns-24-billion-net-income-34932

Nothing about a dividend which is what Ive been waiting for