Ford Says Operating Profit Substantially Lower in Quarter
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Ford Motor Co., the second-largest U.S. automaker, said its pretax operating profit will be “substantially lower” in the second quarter in part because overseas losses tripled from the year’s first three months.
Ford will be profitable and have positive operating cash flow in the three months ending June 30, according to a filing yesterday with the U.S. Securities and Exchange Commission. Ford said it expects “strong results” from its North American operations, while pretax losses in Europe, South America and Asia could reach $570 million.