Don't get out the party hats at Ford just yet, analyst says

A roundup of what analysts and others are saying about Ford Motor Co.'s second-quarter financial results released today:

“Forty cents [a share] in the second quarter is as good as it’s going to get. Despite the volume being down, they had a great cost performance. But ultimately, revenue still drives the day. They have a bulge of launches behind them and there’s a bulge of launches ahead of them. They’re kind of in the eye of the storm. The F-150 changeover to aluminum is the largest, most complicated launch in the history of the company. It’s going to be a very painful process. They won’t know until they turn the machine on how the products will be.”

-- Adam Jonas, an analyst with Morgan Stanley

“Ford did very well, but there are some reasons to not get out the party hats just yet. Market share issues overall have to concern Ford. If [Europe] is sustainable, that’s good news … I don’t believe China is going to be a never-ending source of gains.”

-- Jack R. Nerad, Kelley Blue Book

“We expect a positive reaction to this strong set of results, particularly the surprise profit in Europe, something investors place outsized importance upon."

-- Ryan Brinkman, an analyst at JPMorgan Chase & Co.

“What’s really impressive [about Ford] was that they finally had a profit in Europe. Ford has done a good job containing costs on the same level of revenue. They are being very disciplined about costs.”

-- AutoTrader analyst Michelle Krebs

“This is a transition year for Ford, a year of investing for much better things in 2015 and 2016. In China, Ford is just going gangbusters.”

-- David Whiston, Morningstar Inc., from Bloomberg 

“I suspect that Ford’s record performance in North America owes something to General Motors’ massive, seemingly unending, auto recalls … Perhaps surprisingly, there is a relatively small disparity between the price-to-earnings multiple that the shares of the two automakers command, with Ford 9.3 times the EPS estimate for 2015 and GM at 8.1 times.”

-- Alex Dumortier, The Motley Fool

Compiled by Nora Naughton. Bloomberg contributed to this report.

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