Ford Motor Company on Tuesday issued financial guidance for 2005, reflecting increased profit from its worldwide automotive operations but taking into account an expected drop in financial services income, an Associated Press (AP) report said.

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The automaker reportedly expects first-quarter earnings of 25 cents to 35 cents a share.


For the year, based on targets for improved quality, market share and automotive profit, Ford expects earnings of $US1.75 to $1.95 a share, excluding items, below comparable 2004 earnings of $2.11 a share, AP said, adding that pretax profit is expected to be $5 billion to $5.7 billion.


The report said analysts surveyed by Thomson First Call currently expect Ford to post first-quarter earnings of 60 cents a share on sales of $36.92 billion and 2005 earnings of $1.82 a share on sales of $145.76 billion.


According to AP, the company expects 2005 automotive sector pre-tax profit of $1.5 billion to $2 billion, up from $850 million in 2004, due to significantly improved profit from its Premier Automotive Group and flat to improved performance from the Americas, Ford Europe and Asia Pacific and Africa/Mazda – figures for both periods exclude special items.

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The report said Ford is targeting US automotive volume of 17.2 million units, slightly above its anticipated European volume of 17.3 million units while industry pricing in both regions is expected to be down slightly.


Financial services sector profit, excluding special items, is anticipated to decline to $3.5 billion to $3.7 billion from $5 billion in 2004, hurt by results from Ford Motor Credit as lower volume, increasing interest rates and non-recurrence of reserve reductions impact operations, AP said, adding that capital spending is projected at $7 billion or lower.


Ford expects to meet its 2006 goal of pretax profit of $7 billion, excluding items, if 2005 milestones are met, the Associated Press said.


Financial services boost Ford’s 2004 profits