Ford reported 13 cents in per-share earnings from $26.8 billion in sales for the quarter.

Ford management estimated their company would make about 50% of planned production in the second quarter because of a lack of chips.

eastern time, the chip situation is improving but “remains fluid.” Things in the second half of 2021 likely won’t be as bad as the second quarter, but the issue isn’t fully behind Ford or the auto industry.

Operating profit in North America was just $200 million in the second quarter, down from $2.9 billion posted in the first quarter of 2021.

Back in April, Ford said the chip shortage should cost the company about $1.1 billion in full-year operating profit and that it expected to produce about $6.5 billion in full-year operating profit, including the impact of the shortage.

In the first two quarters of the year, Ford earned roughly $6 billion in operating profit.

For the second half of 2021, Ford expects to earn about $3 to $4 billion.

That means for the full year, Ford now expects about $9 to $10 billion in full-year operating profits, much better than the $2.8 billion earned in 2020.

In April, Ford management projected about $1 billion in full year free cash flow.

So far in 2021, Ford stock is up about 56%, far better than comparable 17% and 14% gains of the.