DEARBORN, Mich. (AP) — North America propped up Ford Motor Co.'s profits in the first quarter, which otherwise took a beating from plummeting European sales and higher taxes.
Ford said Friday its net income fell 45 percent from a year earlier. The first quarter of 2011 was the company's best first quarter since 1998.
But Ford beat Wall Street's expectations, and the company's outlook was upbeat. Ford expects improvement in the second half of the year as more plant capacity opens. It's also hoping a new plan to offer lump-sum pension payments to retirees will wipe millions of dollars in liabilities off its books.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
