NEW YORK, July 30 (Xinhua) -- Ford Motor Co. on Wednesday released its second-quarter financial results, showing a net loss of 36 million U.S. dollars, attributable to special charges related to a field service action and expenses related to a previously announced cancellation of an electric vehicle program.
In the period, the U.S. automaker's revenue came in at 50.2 billion dollars, up 5 percent year on year. The adjusted earnings before interest and taxes (EBIT) were 2.1 billion dollars, including 800 million dollars in adverse net tariff-related impacts.
Ford's cash flow from operations in the second quarter was 6.3 billion dollars. At quarter end, it had 28.4 billion dollars in cash and 46.6 billion dollars in liquidity.
By segment, Ford Pro generated 2.3 billion in EBIT with a margin of 12.3 percent on 18.8 billion dollars in revenue in the second quarter.
Ford Model e reported a second-quarter EBIT loss of 1.3 billion dollars, higher than the loss for the same period last year.
Ford Blue reported 661 million dollars in EBIT in the second quarter, reflecting profitable market share gains, higher net pricing and cost improvement. Segment revenue declined 3 percent to 25.8 billion dollars.
"Our second-quarter performance shows the power of the Ford+ plan and continued execution on cost and quality," Ford president and CEO Jim Farley said in a statement released Wednesday. ■
