Ford announced their quarterly results this morning, and they were just so close to the industry estimates we feel like maybe they should get a do-over or maybe an extra credit point or something. Like the General yesterday, FoMoCo saw a huge pre-tax charge for plant closings (approximately $2.5 billion) which contributed to their net loss of $1.2 billion. But, since that's all pre-tax, they're able to play the "paper losses" game and show a profit during the quarter of $458 million, or 24 cents a share. Sounds good, right? Unfortunately, not good enough. Industry analysts were expecting 25 cents. And when industry analysts predict it and you don't hit it...well...we're sorry Ford — please, try again next quarter and we'll see if you can win next time.
Welcome Back, General Motors! [internal]