Strong third-quarter results for U.S, European and Latin American companies.
BY CHRONICLE STAFF
Latin America continues to shine in corporate earnings results. In the third quarter. major U.S. companies like Ford, AES, Colgate and Goodyear posted double-digit revenue growth in Latin America and often similar increases in profits. Meanwhile, European companies like Endesa and Skanska also posted healthy growth, as did Latin American firms like Wal-Mart de Mexico, AmBev, JBS and CBD. Brazilian airline TAM boosted revenues, but manage to post a loss.
U.S.-based auto maker Ford boosted third-quarter South America revenues by 28.6 percent to $2.7 billion, while pre-tax profits grew by 24.4 percent to $480 million. That compares to losses and revenue declines in North America and the company's Asia Pacific and Africa division as well as a profit decline in Europe. "The [profit] increase reflected higher net pricing, favorable volume and mix, and favorable changes in currency exchange rates, partly offset by higher net product costs," Ford said in its earnings statement last week.
U.S.-based energy company AES boosted third quarter Latin America generation revenue by 30.3 percent to $1.2 billion, while Latin America utilities revenues grew by 23.3 percent to $1.6 billion. Generation income in the region increased by 159.3 percent to $350 million, while income from utilities in Latin America fell by 2.1 percent to $186 million.
U.S.-based Colgate reported...
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