Ford Boosts 2nd-Quarter Forecast on Tax Refund

Ford Motor Co. raised its forecast for second-quarter earnings after it received a tax refund earlier than expected. The revision won’t affect full-year profit forecasts.

Ford’s second-quarter forecast improved to breakeven to a profit of 15 cents a share, compared with its previous forecast of breakeven to a loss of 15 cents a share, the company said in a quarterly filing with the Securities and Exchange Commission. Ford continues to forecast 2005 profit of $1.25 to $1.50 a share, spokesman Glenn Ray said.

The company said its auto operations might not earn a profit this year. Ford is relying on revenue from auto financing to keep it profitable.

Ford shares fell 17 cents to $9.78 on the New York Stock Exchange.