Ford Motor Co. reported its 13th consecutive quarterly profit Wednesday and beat Wall Street's earnings and revenue forecasts, prompting Standard and Poor's and others to reiterate their "buy" ratings on Ford shares. But the shares are languishing around $9, less than half their value at the beginning of 2011. On Wednesday, they hit a new 52-week low of $8.92.
That led an analyst to ask CEO Alan Mulally why Ford's shares aren't performing better during a conference call to discuss the company's second-quarter earnings.
QUESTION: "Your stocks sit in the $9 range here, it's a price level we haven't seen since December 2009, which is a year where I think Ford make l$0.01 of earnings per share ... As an industrialist and a business leader, what do you read into that? What do you think the market is missing about Ford here?"
MULALLY: "Well, I think it's in the context of a very tough business environment worldwide. I think people are starting to appreciate that we have a tremendous presence and operation in Europe. We have made money there over the last eight years, but are seeing this very significant deterioration in the economy and the industry. And so I think that's weighing on people's minds.
"I think it's more of the volatility of the world. I think people really do appreciate the value-creation potential going forward, by supporting the customers all around the world. Even during the toughest of times, we continue to restructure our operations to operate profitability at the lower demand, the current demand. And also, we are accelerating the investment in these new products around the world. So I think both the things are in play. I think the best thing we can do for value creation is to continue to implement the Ford plan of delivering a viable, exciting, profitably growing company, and I think that will be appreciated over time."
Source: http://news.yahoo.com/call-ford-ceo-alan-mulally-214326190--finance.html
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