Mexican Media Brands
Federal-Mogul Profit Tumbles 37%
Federal-Mogul Corp. netted $32 million in January-March this year compared with $51 million in the same period of 2011.
#economics
Share
Federal-Mogul Corp. netted $32 million in January-March this year compared with $51 million in the same period of 2011. Revenue rose 2% to $1.8 billion.
The company says its original-equipment sales in the first quarter grew 10% in North America, 3% in Europe and 13% in the BRIC countries (Brazil, Russia, India and China).
Federal-Mogul's earnings before interest, taxes, depreciation and amortization slipped 6% to $168 million. Operating profit margin shrank to 9.5% from 10.4% in the first quarter of last year.
The company attributes a $112 million cash outflow to a 30% increase in investment to boost capacity and factory efficiency. Federal-Mogul ended the quarter with $850 million cash on hand.
RELATED CONTENT
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.