Ford Posts $424m Q2 Loss, Burns a Billion Bucks http://www.thetruthaboutcars.com/ford-posts-424m-q2-loss-burns-a-billion-bucks/ By Robert Farago July 23rd, 2009 Huzzahs will greet Fordâs execs this morning, as The Blue Oval Boyz didnât lose as much as they could have, and didnât burn as much of their cash pile as they could have. More specifically, the DOE loan-taking American automaker reported a $424 million pre-tax operating loss on net income of $2.3 billion. (âSpecial itemsâ created a net gain of $2.8 billion, including a $3.4 billion gain via debt-reduction.) The automaker ended the second quarter with âAutomotive gross cashâ of $21 billion. That means Fordâs âoperating-related cash outflowâ (i.e. cash burn) was $1 billion. Before the results, Ford CFO Lewis Booth claimed Ford was âcertainly confident of getting through this yearâ with sufficient cash. True dat. Meanwhile, business sucks: Fordâs second quarter revenues clocked-in at $27.2 billion, down $11 billion from the same period a year ago.