duplicate post from SA:Ford-------------------------------Q1 earnings have been released this morning. Ford reported earnings of $0.41/share against analyst expectations of $0.38/share. Top line results also exceeded forecasts of $33.7B coming in at $35.8B.As expected North America continued to carry the mail, offsetting continued losses in Europe. South America also reported a $218M loss, much of which was driven by currency weakness in Argentina and Venezuela. Asia continues to show progress, as Ford eeked out a profit of $6M (in 1Q2012 they lost $95M). Revenue was up 13% for the quarter. Operating margins improved from -4.2% in 2012 to 0.2% in 2013. Market share across the region was up 30%. The profitability in Asia continues to be restrained by additional investments to build capacity, and Ford anticipates break even results for the year as they expand the product lineup, bring on new plants, and deliver improved revenue and market share.The number I am fixated on is operating margins. Overall they were down slightly to 5.2% globally and held firm at 11% in North America. Those figures should keep Ford near the top of the industry and continue to drive profits, but a product mix shifting toward smaller vehicles will make it difficult to maintain. Market share in North America was up from 15.2% in 1Q2012 to 15.9 this quarter.I'd give this one a thumbs up for sure.Doug
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