Investors who have been anxiously awaiting Ford’s second quarter earnings report can now take a sigh of relief. On Wednesday, July 26, Ford (NYSE:$F) released its second-quarter report and the results surpassed analysts’ expectation. Ford’s adjusted earnings of $0.56 per share in the second quarter surpassed average analyst expectations of $0.43 per share. As well, Ford’s F-Series pickups saw strong sales in the U.S. despite a decline in automobile retail in the region. According to Ford, its F-Series sales in the quarter was the best since 2001. Compared to 2016’s second quarter, F-Series sales rose by 7% in 2017’s second quarter. Along with strong sales, the average price for F-Series vehicle went up by $3,100 to reach $45,400. As a result, the sales of the F-Series lead the segment, Ford said.

Besides the F-series, Ford’s Lincoln luxury division also saw strong sales. 29,000 Lincoln luxury vehicles were sold in the second quarter, making it the strongest performance the company has seen in a decade, according to Ford. “In China, the brand capped its best ever quarter with record June sales, up 84 percent,” Ford noted.

Even with the automobile industry slowing down in the U.S, Ford still saw a revenue of $40 billion in its second-quarter. “Automotive profits are driven by North America, with Europe and Asia Pacific also profitable; outside North America, other regions were about break-even in total,” Ford explained.

This quarterly-earnings report was especially anticipated due to it being the first for Ford under the leadership of CEO Jim Hackett, who replaced Mark Field earlier this year. Hackett hopes to navigate Ford towards more high-tech vehicles to compete against the companies like Tesla and other automobile companies who were putting their focus on electric and self-driving vehicles.

During pre-market trading, Ford’s stock went up by 1% on July 26.

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