November 2, 2009
I'm very happy to say that my faith in Ford Motor (F) has been rewarded. Despite all the troubles in the auto sector, I've had Ford rated as a buy since the beginning of the year, and the shares have tripled.
But the really good news came today. Ford just announced that they earned nearly $1 billion last quarter. Moreover, they said that that 2011 should be "solidly profitable."
On an adjusted basis, Ford reported a quarterly pretax profit of $1.1 billion, or 26 cents a share, compared with a year-earlier loss of $3 billion or $1.32. Ford beat the 20 cents a share adjusted loss it was forecast to report by an average of 11 analysts surveyed by Bloomberg.
A few weeks ago, I wrote that I only saw two buys in the entire auto industry–Ford and Thor Industries (THOR). Today, however, Thor is a Sell but Ford continues to be a good buy.