Before the market opens tomorrow morning, American auto maker Ford Motor (NYSE: F) will be reporting its second quarter numbers. Wall Street is not looking for a great quarter from the company.

Analysts on average expect the struggling auto maker to post a loss for the quarter of 25 cents per share, and revenues totaling $34.6 billion. The last time that the company reported earnings was back on April 24 when it shocked Wall Street with a 5 cents a share profit versus consensus estimate for a loss of 16 cents for its first quarter.

This quarter has proven to be tough for the company, which recently posted pretty bad June sales figures. In fact, sales for June declined by a devastating 28% compared to the same period last year.

One of the main things that has been hurting Ford lately is the run up in gasoline prices. While prices have started to fade a bit over the past week, last quarter was definitely tough on auto makers as consumers tightened their belts in reaction to $4 gasoline. Ford was particularly vulnerable considering how much emphasis the company has put in the past on its large trucks and SUV divisions, both of which have seen sales plummet over the past year.

Following last quarter's earnings report, the company's CEO, Alan Mulally, was very upbeat, stating that he believed Wall Street was starting to believe in his company's turnaround plan. That optimism faded rather quickly, and since then he has warned that the company no longer expects to return to profitability as early as next year.

The last time Ford was able to post an annual profit was back in 2005. If Ford posts another loss this quarter it will be its sixth in the eight quarters since Mulally took over as CEO. The past two years, Ford has lost $15.3 billion.

The earnings report Thursday will shine a little more light on how bad the situation is as Mulally is also expected to make some remarks over the turnaround plan. Considering that sales by U.S. auto makers are running at the lowest levels we have seen in the past 15 years, it is hard to imagine hearing anything too positive from Mulally.

The company will also talk more about the shift in its product mix away from its large vehicle base to a more fuel efficient, smaller vehicle lineup. After relying the last 20 or so years on its heavy trucks and SUVs, the company is now facing the harsh reality of a changed world, and if it does not move quickly it is going to get left even further behind than it already is. Mulally stated back in May that the company is going into a permanent structural shift, so we should probably hear a little more about that tomorrow as well.

What are your predictions? Will we see another miracle earnings report from the company, or should we expect to see the company show a loss, as expected?

Michael Fowlkes has worked as a stock trader for seven years and spent the last four years working as an analyst for the online investment advisory service Investor's Observer.