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Ford 2Q profit drops 86% as it restructures overseas

DEARBORN, Mich. (AP) — Ford's net profit tumbled 86% in the second quarter due largely to restructuring costs in Europe and South America. Net income for the April-through-June period dropped to $148 million, or 4 cents per share. Without the charges the company made 28 cents per share. Revenue was flat at $38.9 billion. On average, analysts surveyed by FactSet expected earnings 31 cents per share on revenue of $38.49 billion. Chief Financial Officer Tim Stone says the company had charges of $1.2 billion as it moved to close factories in Europe and South America. He says Ford already is seeing an impact from its global fitness measures that included a reduction of 7,000 white-collar workers. Ford, which released numbers after the markets closed Wednesday, says its results include a $181 million valuation loss on an investment in a software company, trimming 4 cents off adjusted earnings per share. Its stock fell 6.3% in after-hours trading to $9.68. Stone said Ford is in the early stages of its restructuring, but already is seeing improvement in some regions. Free cash flow also improved by 80% to $2.1 billion in the first half of the year, he said. "We're already starting to see some early benefits," he said. "A lot of work to do." The company expects improvement in the second half of the year as more new big SUVs hit dealerships and more of the restructuring takes hold. Ford on Wednesday forecast pretax adjusted earnings of $7 billion to $7.5 billion for all of 2019, compared with $7 billion last year. The company previously had only said that pretax earnings would improve. Full-year adjusted earnings per share are forecast to be $1.20 to $1.35, up from $1.30 in 2018. Previously it did not give per-share guidance. Ford's U.S. sales fell nearly 5% in the second quarter, according to the Edmunds.com auto pricing site, as the company exited most of its passenger car business. But Stone said sales of the new Ford Ranger small pickup offset much of that as its share of the small truck segment rose 14%. Edmunds, which provides content for The Associated Press, said Ford's average vehicle sale price rose 2.8% to $41,328 during the quarter. In North America, Ford's biggest profit center, pretax earnings fell 3% to just under $1.7 billion, which the company blamed on switching its Chicago factory to build new versions of midsize SUVs.

Lincoln Sync 3 Infotainment Review | Clean and eminently usable

Many of the newer Lincoln products might be vastly different in design and experience than their Ford counterparts, but infotainment software is still heavily shared between the two brands. That said, Lincoln has made a great effort to make its version of Sync 3 feel more upmarket and premium compared to Ford’s. If you can think of it in terms of Android smartphones, Sync 3 in Ford vehicles is like stock Google software. Sync 3 in Lincoln products is akin to SamsungÂ’s UI, which amounts to a totally new look and added features. The core interface remains the same across the two brands. LincolnÂ’s snazzy new look can be customized with a few different color combinations, but they generally all consist of muted tones that exude old-world luxury more than the heavy-handed blue hues on Ford's version of Sync. One convenient commonality between the two is Apple CarPlay and Android Auto capability, both of which require wired connections. Some may find the functionality of the Apple/Android interfaces to be compromised as detailed in our Ford Escape interior driveway test). Sync 3 has a bottom bar of quick toggle, commonly-used apps, and a Home button in the top left corner. It makes getting to any particular set of menus quick and painless. Squared-off icons are used within menus with large font and intuitive scrolling functionality. There are no redundant scroll wheels or touchpads to control the screen interface in any of LincolnÂ’s vehicles, so youÂ’ll need to be comfortable with a touchscreen. Thankfully, there are hard buttons on the dash for the climate controls and common audio functions.  Lincoln Sync 3 Infotainment View 10 Photos In the Lincoln Navigator weÂ’re using to demonstrate the technology, Sync 3 is smooth and generally free of hiccups. However, itÂ’s not infallible and tablet-smooth as plodding through BMWÂ’s or MercedesÂ’ latest infotainment systems is. Lincoln uses Sync 3 on all of its current models, and in the Navigator, itÂ’s playing on a large 10-inch screen. The added luxury features for Lincolns tends to dictate all of the extras you see in the software. There are settings for a vast array of ambient lighting, hugely complex seat controls (for the 30-way massaging seats) and a number of customization options for the excellent Revel audio system (optional). Lincoln differentiates itself even further with the fully digital instrument cluster flanking the big screen.

Lincoln takes to the Super Bowl with Twitter schizophrenia

Lincoln has officially pulled off the wraps on its ad for this year's Super Bowl. As you may recall, the company invited people to send in their tweets to help craft the spot's story line with Jimmy Fallon in the director's chair. The company chose five tweets and ran with them, and the result is, well, about as focused as your average online comment thread. We do get plenty of shots of the all-new Lincoln MKZ, as well as at least one comment on the interior leather's suppleness.
Do we learn a single thing about the brand's new honey? Nope. But there's a turtle crossing, a band of bikers, a German farming student and herd of alpacas. Mostly, the ad just makes us tired. You can check out the full spot before it airs during the big game by watching it below. We'll be busy preparing for the alpacalypse.
AOL Autos' associate editor Peter Bigelow went deeper in his criticism. Have a read: Lincoln's Super Bowl Ad is A Flop.