<![CDATA[Jalopnik: Earnings]]> http://cache.jalopnik.com/assets/base/img/thumbs140x140/jalopnik.com.png <![CDATA[Jalopnik: Earnings]]> http://jalopnik.com/tag/earnings http://jalopnik.com/tag/earnings <![CDATA[Ford Made A Boatload of Cash Last Year]]> Ford made one metric shit-ton of money last year. [Ford] More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=5745725&view=rss&microfeed=true <![CDATA[GM Reports $2 Billion Net Income In Third Quarter]]> The born-again GM reports they made $2 billion in net income on $34.1 billion in revenues during the third quarter — the largest in 11 years. [GM] More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=5686291&view=rss&microfeed=true <![CDATA[GM Earns $1.3 Billion, Stays Quiet About IPO]]> GM earns $1.3 billion in Q2, pulling in $2.8 billion cash. IPO filing probably Friday. More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=5610823&view=rss&microfeed=true <![CDATA[GM, Chrysler Sales Still Lacking In Actual Customers]]> Detroit's troubled twosome have revived their sales thanks to cut-rate rental cars and other fleet vehicles rather than retail customers. That didn't keep Chrysler from hinting it will raise its earnings targets soon after losing $172 million last quarter. [AutoNews] More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=5608049&view=rss&microfeed=true <![CDATA[Ford Posts $2.1 Billion Profit, Sends "Thank You" Baskets To Chrysler, GM]]> Ford posts $2.1 billion profit, sends really big "Thank You" baskets to Chrysler, GM. [NYT] More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=5525387&view=rss&microfeed=true <![CDATA[Ford Posts Profit, Mulally Does The Happy Dance]]> Ford said today it earned a profit of $2.7 billion in 2009, a stunning improvement over its historic, $14.7 billion loss in 2008. It's the company's first full-year profit since 2005. But, they're not out of the woods yet. More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=5458591&view=rss&microfeed=true <![CDATA[Toyota Predicts First Annual Loss In 70 Years]]> Toyota predicts first annual net loss in 70 years. [CNBC] More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=5147844&view=rss&microfeed=true <![CDATA[Exxon Mobil Posts Record $45.2 Billion Profit In 2008]]> Exxon Mobil posts record $45.2 billion profit for 2008. [MSNBC] More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=5142650&view=rss&microfeed=true <![CDATA[Ford Earnings Could Be A Bloodbath]]> Ford earnings "going to be a bloodbath." [Freep] More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=5140851&view=rss&microfeed=true <![CDATA[NYSE Puts GM Stock Trading On Hold While Awaiting 3Q Announcement]]> General Motors has halted trading in advance of the big third-quarter announcement we've been waiting for. This isn't catastrophic news, but it underlines the fact that the announcement (which was supposed to made a few minutes ago) is going to be bad. Really bad. It's raining in Detroit right now and CNBC's Phil LeBeau is sitting on the phone waiting for his producer to give him the numbers so that he can report them to the world. It's a rather fitting scene. Expect a quick update as soon as we hear the news. More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=5079539&view=rss&microfeed=true <![CDATA[GM Reports Second Quarter Net Loss Of $15.5 Billion]]> As expected, GM just reported a net loss of $15.5 billion (an astounding $27.33 per share) and an adjusted net loss of $6.3 billion ($11.21 per share) after charges of $9.1 billion in non-cash "special" one-time items for the second quarter of 2008. Second quarter liquidity of $21 billion, plus a credit line of an additional $5 billion. All the nitty-gritty dirty details below the jump and we'll have more analysis shortly. More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=399663&view=rss&microfeed=true <![CDATA[Official Car Pundit Drinking Game: Fonda Ain't Got A Hybrid In The Back Of Her Honda]]> Time to belly up to the bar yet again for the only Official Car Pundit Drinking Game as the boss-man's been asked to spend a few minutes on CNBC to talk about Honda's earningsgasm. He'll be answering a question similar to what we asked you today in the Question of the Day — is Honda's small car strategy the right strategy? Tune in to "Street Signs" on CNBC at 2:15 PM EST to find out. Also, give us the drinking rules in the comments below. If you're a little foggy on this whole "drinking game" thing — here's the rules, learn them, love them, then make your own. More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=399263&view=rss&microfeed=true <![CDATA[Ford Only Loses $380 Million, Happy Days Are Here Again]]> This time last year we were telling you about how Ford lost a whopping $5.7 billion in the third quarter of 2006. We've got good news: Ford only lost $380 million in the third quarter of 2007. Mission Accomplished! Break out the fizzy wine and caviar! Revenue was up to $41.1 billion for the quarter, compared to just $37.1 billion in 3Q06. The improvement is tied to "higher net pricing, changes in currency exchange rates and improved product mix." By improved product mix we totally hope they're talking about the Taurus, which totally didn't exist a year ago. Full press release below the jump... More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=320509&view=rss&microfeed=true <![CDATA[GM Reports $39 Billion One-Time Net Loss For Third Quarter, $1.6 Billion Adjusted Net Loss]]> GM reported last night a $39 billion (yes, that's "billion" with a "b") loss or $68.85 per diluted share, for the third quarter of 2007, compared with a reported net loss of $147 million, or $.26 per diluted share, in the year-ago quarter. The majority of that number was due to special charges of $37.4 billion related largely to a previously announced valuation allowance against its deferred tax assets. But, regardless of the one-time charge, the General showed some serious losses in the third-quarter totaling an adjusted net loss of $1.6 billion, or $2.80 per diluted share, compared to the net income of $497 million, or $0.88 per diluted share, in the year-ago quarter. What caused the variance? It seems it's coming primarily from a serious drop in income at GMAC, as well as what GM's calling "increased corporate expense related to legacy cost, foreign exchange and various 2006 tax benefits..." but they claim we shouldn't worry because it's "partially offset by improved performance in automotive operations." Well, umm, that's good it's "partially offset." We'll have more on the big write-down later — but first we have to find a way to, as one tipster asked this morning, "explain it in terms a six-year-old can understand." Full press release from the General after the jump. More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=319805&view=rss&microfeed=true <![CDATA[Ford Loses Less Money Than Otherwise Could Have!]]> Ford reported today that sales this October were only 9.5% lower than sales last October, which is actually not as bad as some thought it could have been. For the month Ford sold 195,462 vehicles, with a 0.9% increase in truck models (which include crossovers), but a 26% decrease in car sales. High on this list of things Ford is going to blame for this is the downturn in home building, which has resulted in a downturn in sales of the F-series pickups to contractors and builders. Press release after the jump. More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=317886&view=rss&microfeed=true <![CDATA[ Wow, DaimlerChrysler (yup, that's still...]]> Wow, DaimlerChrysler (yup, that's still the name) saw earnings of $2.5 billion last quarter. That was despite the $3.4 billion charge on the sale of Chrysler. Imagine how better it would have been had they recorded Chrysler's profits during the quarter too. Oh wait...maybe that would have been backwards. [NYT] More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=294611&view=rss&microfeed=true <![CDATA[ Toyota made $4.1 billion this past quarter....]]> Toyota made $4.1 billion this past quarter. Actually, they made 491.5 billion yen, but we translated that for you. [Bloomberg] More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=285616&view=rss&microfeed=true <![CDATA[How Many Drinks Was That? Invisible Drinking Game And GM Earnings Edition]]> More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=284991&view=rss&microfeed=true <![CDATA[ Penske Automotive shakes it's money-maker...]]> Penske Automotive shakes it's money-maker in the second quarter to make itself some money. [Reuters] More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=284803&view=rss&microfeed=true <![CDATA[GM Shows Quarterly Profit Globally — And In North America — Umm — Something]]> The General released earnings numbers for it's most recent quarter just moments ago, beating analyst expectations of a slight profit. The biggest US automaker showed $45.92B in net revenues and a net income of $891 million ($1.56 per diluted share) for the second quarter of 2007, an improvement of $4.3 billion compared with a reported net loss of $3.4 billion ($5.98 per diluted share) in the year-ago quarter. Those numbers also include $520 million ($.92 per diluted share) in net special items, including $374 million in charges associated with GM's support of the bankruptcy and reorganization of Delphi and other fun stuff going on with restructuring of GM NorAm. But the biggest piece of news in the release is:
"GMNA had adjusted net income from continuing operations of $78 million in the second quarter 2007 (reported net loss from continuing operations of $39 million), compared to adjusted net loss of $94 million from continuing operations (reported net loss from continuing operations of $3.95 billion) in the second quarter 2006."
So, they had "adjusted net income of $78 million" and a "reported net loss from continuing operations of $39 million?" Which one is it? Well, whatever it is, even in the short term, if anyone thinks the General's out of the woods, think again. Things will get dicey tomorrow yet again, as Edmunds is predicting July US sales for the big ol' automaker from Detroit to be down 18% when those numbers are announced. Full press release below the jump. More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=284220&view=rss&microfeed=true <![CDATA[Shares Of General Motors Up Over 5% At Today's Market Close]]> More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=284071&view=rss&microfeed=true <![CDATA[ GM to post "modest" quarterly profit. Now...]]> GM to post "modest" quarterly profit. Now we'll ask everyone to define "modest." [Freep] More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=283897&view=rss&microfeed=true <![CDATA[ Quote: "Americans may not be interested...]]> Quote: "Americans may not be interested in buying American cars anymore, but American investors sure are buying GM's turnaround story." [Motley Fool] More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=283357&view=rss&microfeed=true <![CDATA[ Mercedes second quarter profits surge to...]]> Mercedes second quarter profits surge to $1.65 billion. No second quarter results announced for Chrysler because of the impending sale. That's probably a good thing wethinks. [Forbes] More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=282255&view=rss&microfeed=true <![CDATA[ Ford reports earnings on Thursday. Forbes...]]> Ford reports earnings on Thursday. Forbes has a preview. [Forbes] More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=282206&view=rss&microfeed=true <![CDATA[Oh, What A Feeling — Of Toyota Making Almost $14 Billion In 2006!]]> Just to give you an idea of how much money we're talking about here (in case you can't wrap your mind around ¥1.64 trillion — $13.7 billion — in profits off of ¥23.94 trillion — $199.5 billion — in net revenues ) when I used to work for the State of Michigan, I remember the state's general fund operating budget was like around $8 billion. That means Toyota made almost twice as much money this past year as the State of Michigan spent on the courts, the legislature, all of the offices of the statewide elected officials, the prisons — plus overages in programs like schools and health care coverage. Oh yes, plus all the money spent on public universities by the State, the department of human services...I think you get my drift here. Full press release from ToMoCo after the jump. – Ray Wert More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=258927&view=rss&microfeed=true <![CDATA[Delphi Loses $533 Million In First Quarter Of 2007]]> The Oracle, she has spoken — and the words coming out of her mouth are most assuredly not good for the General's big auto supplier. Delphi said it took in $6.7 billion in revenue and lost $533 million during the first three months of this year. That's substantially worse than the $7.0 billion in revenue and $363 million in red ink they dripped during the first quarter of 2006. Although Delphi claims $73 million of that loss was "attributable to employee termination costs," there's still a question of why they're hemorrhaging almost $100 million more year-on-year. We're sure glad all the great execs at Delphi were paid that $38 million in bonuses though, aren't we? More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=258212&view=rss&microfeed=true <![CDATA[Breaking Even: CNBC's Phil LeBeau "Causes" Accident In Front Of GM World Headquarters!]]> More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=257420&view=rss&microfeed=true <![CDATA[No Way Of The Day: GM Records First Quarter...Profits?!]]> For serious. Everyone's favorite lovable and huggable automaker that's the world's biggest second-biggest sometimes-biggest just reported their first quarter numbers and it's kinda a big deal so far — mostly because it's a profit of $62 million over a revenue of $43.9 billion! For reals, at least according to the press release, which we've handily included after the jump. Oh and it's just preliminary so they've got like, whatever, a year to get it right later. – Ray Wert More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=257346&view=rss&microfeed=true <![CDATA[Mulally Morning Mayhem! The Ford Quarterly Earnings Call Live-Blog]]> Well, the numbers are out and things look both good and bad for FoMoCo. As we told you earlier, Henry Ford's baby is seeing things go from bad to worse on the money-makin' front here in North America. On the brighter side of life, they're losing significantly less money overall on a global level. What's this mean for FoMoCo? Well, we're going to listen to Chief Exec Alan Mulally try to make sense of the numbers for us on the automaker's quarterly earnings conference call, and we'll be the only ones with the balls to cover it live. Right here, right now — let's play. More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=255468&view=rss&microfeed=true <![CDATA[Breaking! GM Finally Releases 2006 Financial Results Showing Profits And Not-So-Much Profits]]> Oooh, look, the General's finally decided to tell us whether they made any money last year, dropping their restated earnings out in the wee light of this March morning. Let's find out if they...hmm...ok...looks like they made $2.2 billion in 2006 on revenues of $207 billion. Good for them. It's not what I'd call the best return on revenue — but whatevs, who are we to argue, we're not stockholders. But oh wait, that's net income excluding special items, and although that's the number the traders are going to be happy to see, what about the real number — the number that includes the "special items?" Special items are of course the one-time costs like employee buyouts, restructuring costs, etc. That number's not as good — in fact, when you drop the "special items" into the equation, the General ends up showing a $2.0 billion loss. Well, at least they've still got a year-end cash balance of $26.4 billion. At this rate they can have 12 years of "special items." Full details in the press release below the jump. – Ray Wert More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=244072&view=rss&microfeed=true <![CDATA[Skrew The Sales: Skoda Posts Record Profits For 2006, Too!]]> V-Dub's highly precise Czech automaker released 2006 financial numbers today that broke the record books for the Republic's largest vehicle exporter. We already told you that sales rose 11.7% to 549,667 vehicles, with production up 12% to 556,347 vehicles. But now, on the P&L side, they also showed sharp improvements with operational profits leaping 34.5% to $677.2 million. Great news, yes, but the best news is the line from the Reuters report on the press release:
"Skoda Auto, once the butt of auto industry jokes for its reputation for producing low-quality cars during the Communist era, now has Volkswagen laughing all the way to the bank."
May we please offer up a new slogan? How about:
"Skoda: From Butt To Bank"
I kind of like that. What do you think — catchy? – Ray Wert More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=238828&view=rss&microfeed=true <![CDATA[Bonus! Delphi Loses $2 Billion In Third Quarter]]> Obvs this is pending any restatements, but earlier this morning the General's biggest supplier saw a net loss of $2 billion in the third fiscal quarter. That's over $1.2 billion more than they lost during the same quarter last year. So even if you "take away" the $1 billion of the loss related to employee attrition programs, the beleaguered, broke and bankrupt company still did $200 million worse than they did during the same period last year. How much were they thinking of spending on bonuses again? But hey, you've got to pay competitively if you want to keep your good people. Maybe that's the problem — maybe they just aren't paying their execs enough. Yeah, that's it. – Ray Wert More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=236295&view=rss&microfeed=true <![CDATA[FoMoCo FUBAR! Ford Earnings Call Live-Blog!]]> Well, the gang's all here for a FoMoCo earnings conference call this morning that I expect to be lossgastic. We're expecting to hear from Alan "New Guy" Mulally, the man-with-a-plan hired in September to captain this plane with an engine fire. We'll also here from Don "What Me Worry?" LeClair, the Chief French Puff Pastry Financial Officer for FoMoCo. And then there's us — standing at the ready to live-blog the Dearborn-based automaker's 2006 earnings call. So refresh this page like mad kiddies 'cause it's going to be one FoMoCo FUBAR fun-ass morning. – Ray Wert More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=231382&view=rss&microfeed=true <![CDATA[Breaking The Bank! Ford Leaks Money Like A Sieve In 2006, Reports Net Loss Of $12.7 Billion]]> The big press conference call isn't until 9:00 AM, so you're just going to have to suck it up and take what we know from the press release we've got in hand straight out of the glass house in Dearborn. What we know is FoMoCo is reporting a fourth-quarter loss of $5.8 billion dollars, pegging the 2006 full-year net loss at a much greater than expected $12.7 billion. That's a net loss of $6.79 per share for the full year. But hey, not everything's doom and gloom over at the glass house. For instance FoMoCo PR's pointing out that in the fourth quarter, $3.7 billion of the loss relates to special charges, but oh wait — they're also pointing out that revenues in the fourth quarter were down to $40.3 billion compared to $46.3 billion during the same quarter last year. Come on, there's got to be something good here in the release. Oh wait, here — they've put together a list of highlights for folks to report on. Topping the list:
"Alan Mulally joining Ford as president and CEO in September."
Looks like they're doing everything possible to remind the media that this was all Bill Ford, Jr.'s fault. Not the world's worst idea — here in Metro Detroit we've been told to "think Ford first" for years now. Full press release after the jump — we're going to go and get ready for the conference call, so remember to check back here for the live-blog. – Ray Wert More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=231365&view=rss&microfeed=true <![CDATA[Breaking! Ford Announces Confusing Earnings Restatement — What's A Few Hundred Million Anyway?]]> FoMoCo finally announced a much anticipated earnings restatement today. Why much anticipated? Well, because if the numbers restated were restated up, that'd be a welcome bit of news for Alan Mulally (and more importantly, for FoMoCo CFO Don LeClair, already on tenuous ground with investors and you know, like — everyone) — however, if the numbers were on the not-so-good side, there'd be some serious hell to pay — and one would expect LeClair would be out the door before the end of the week. Luckily for the man sort of named after a log-shaped and cream-filled pastry — the numbers were up — but here's a better question — by how much? Well, the local Detroit dailies seem to be a bit confused on that one — Sarah Webster over at the Freep's claiming "Ford earned $1.2 billion more over the past 5 years than previously reported." But at the cross-town rival Detroit News, they've gone with the numbers... More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=214620&view=rss&microfeed=true <![CDATA[Breaking Both Ways! GM Loses $24 Million Less Than Previously Reported]]> The mainstream media's always trying to keep the General down. For instance, this morning's Freep article on the big n' bad automaker from Detroit on a $24 million upwards adjustment to its third quarter loss, which clearly is a positive story for the boys n' girls at the RenCen. Somehow, the Freep can't even take that good news on face, and instantly report it as a negative story. We'd like to hope that this is just some fubar by some copy editor somewhere, but more than likely it's the liberal "hate America first, second, third and during earnings restatements" mentality that permeats the Freep. You know, if only the mainstream media were to be positive about US automakers, and quit reporting a loss as an even bigger loss, maybe they could even make some money. – Ray Wert More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=212932&view=rss&microfeed=true <![CDATA[ExxonMobil Releases Third Quarter Earnings, Down To Second-Largest Profit Ever]]> The titan that is the world's largest publicly traded oil corporation on revenue, spoke from high atop an oil well this morning, delivering their quarterly earnings for the third quarter of 2006. And oh what a profit ExxonMobil had — the company reported the second largest profit by a publicly-traded corporation ever — $10.5 billion ($1.77 per share). That's down from the last quarter of 2005, when the company reported the largest profit by a publicly-traded corporation ever — $10.7 billion ($1.79 per share). Well, gas prices were down a bit this past month, weren't they? [Hat tip to Bob!] – Ray Wert More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=210321&view=rss&microfeed=true <![CDATA[What Happened To Step Two? DaimlerChrysler's Chrysler Group Posts Quarterly Operating Loss Of $1.4 Billion]]> Wow. There's no getting around it — this is a really big loss for the 'merican side of the German American hybrid. The automaker saw a hit to the bottom operating line of $1.4 billion during the third quarter of this year — that's over a $1.8 billion 180 degree turn from the same quarter's $393 million operating profit last year. The folks over in Auburn Hills provide two clear reasons for why they hit such a large loss in a post on its media-only site, the Firehouse:
"The operating loss was primarily due to decreased shipments (158,937 units to 504,426 units in the third quarter of 2006 compared to the third quarter of 2005), an unfavorable shift in product and market mix and negative net pricing. Third-quarter revenues decreased by 23% to $12.1 billion."
Double Wow! The 'merican side of the merger of equals saw how much of a sales drop? It's no wonder the automaker has been adding some new steel bars on the upper floor windows in the Michigan HQ tower. – Ray Wert More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=209987&view=rss&microfeed=true <![CDATA[Breaking! GM Announces Third Quarter Net Loss Of $115 Million, Adjusted Net Income Of $529 Million]]> In a not-so-stunning turn of events, the General's claiming a real, live heavens-to-betsy profit in the third quarter of 2006. Yes, it's an adjusted net income — but hey, it's a start. The big n' bad and rock n' rollin' son of Detroit showed a net loss of $115 million, or $0.20 per share — but showed an adjusted net income of $529 million, or $0.93 per share diluted. These numbers came after a record third-quarter revenue of $48.8 billion. This is much better than that whole $1.7 billion loss ($2.94 per share) for the quarter a year-ago. In some of the specifics, GM NorAm only took an adjusted loss of $367 million this quarter — much better than the $1.67 million shellacking they took last year at this time. Of course, they also have less employees now, so there's that. GM Europe took a tiny hit — a net loss of $16 million, but the big money grip for the RenCen based automaker is GM Asia Pacific — posting adjusted net earnings of $83 million for quarter number 3. The rest of the world took in a very decent $184 million — $153 million more than last year. A number the General's pegging on increasing volume from some of the automaker's new hotness they're shipping out in Brazil, South Africa, Colombia and the Middle East. We'll be expecting Rick Wagoner to be on the air in a bit crowing about all of this, so stay tuned for more coverage. In the meantime, full release after the jump. – Ray Wert More »
]]> http://jalopnik.com/index.php?op=postcommentfeed&postId=209966&view=rss&microfeed=true