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Mix-Ansicht- Ford: Gewinnwarnung für 4. Quartal '00, Produktionskürzungen 1. Quartal '01 - Sascha, 22.12.2000, 02:27
Ford: Gewinnwarnung für 4. Quartal '00, Produktionskürzungen 1. Quartal '01
Ford cuts targets, plans
Lowers 4Q EPS guidance by 10 cents; cuts 1Q production 9 percent from plans
December 21, 2000: 5:55 p.m. ET
NEW YORK (CNNfn) - Ford Motor Co. warned Thursday it would miss fourth-quarter earnings estimates and announced a series of temporary closings of most North American plants early in the new year.
The company said it now expects to earn 64 cents a share, 10 cents below the 74 cents a share forecast of analysts surveyed by First Call and down from the 83 cents a share it earned a year earlier. The company blamed weather-related losses in North America and parts shortages outside North America for the current quarter's profit shortfall.
The world's second-largest automaker had previously said it would meet reduced production goals through a cut in overtime rather than shutdowns. But Thursday's after-hours statement said it now plans deeper cuts, reducing production 9 percent from its previous plan. Overall production will be 1.05 million vehicles in the first quarter. North American plants are now set to produce 220,000 fewer vehicles than it did a year earlier, a 17 percent reduction.
"It's clear that U.S. economic growth is slowing," said Martin Inglis, vice president, Ford North America,"and surveys of consumer sentiment point to lower levels of spending in the future. The revised first-quarter plan is intended to align our U.S. inventories with consumer demand. We're making every effort to stay in front of the slowing demand curve."
Ford announced 15 of its plants will be shut down for at least a week in January, although four of those plants are set to be closed for two weeks. Further cuts are possible as well, said the company's statement.
"The production cuts are front-loaded in the quarter," said Inglis,"This gives us the flexibility to assess the economic picture again before the spring selling season
Quelle: http://www.cnnfn.com
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