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Ford Reports Record 3rd-Quarter Income Despite Sales Drop

October 26, 1987|From Reuters

DETROIT — Ford Motor Co., the world's most profitable auto maker, said today that its third-quarter income rose 1.4% to a record $703 million despite a 7% drop in its worldwide vehicle sales.

Ford earned $2.76 per share on sales of $15.2 billion, against $2.61 per share or $14.4 billion in the year-ago period. While revenues rose, worldwide factory deliveries of cars, trucks and tractors to dealers fell 7% to 1,239,188 from 1,334,775 a year ago.

Ford's profits in the first nine months of 1987 rose to $3.69 billion, surpassing the full-year 1986 net of $3.3 billion and the $2.5 billion in the first nine months of 1986.

General Motors and Chrysler Corp. are to report consolidated third-quarter and nine-month earnings Tuesday.

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