Business

Ford (F) Earnings Match Expectations, Fourth Quarter Revenue Beat

Ford (F) Earnings Match Expectations, Fourth Quarter Revenue Beat

The company said the decision was driven by slack demand and weak pricing for small cars, but Ford executives said they were encouraged by Trump's promises of corporate tax cuts and regulatory relief. The automaker said it doesn't expect any additional charges related to the aborted facility. Its total company revenue of $151.8 billion was up $2.2 billion from a year ago.

Ford's North American auto operations, which account for about 90 percent of pre-tax profit, had adjusted profit margins for the quarter of 8.5 percent, up from 8.2 percent a year earlier.

Ford's fourth-quarter results took a $200-million hit from costs related to canceling a $1.6-billion small auto plant in Mexico that had become a target for Trump during his campaign past year.

Competitor Fiat Chrysler Automobiles said earlier it is paying out an average of $5,000 to its 40,000 UAW-represented workers.

Globally, Ford's performance ranged from record profits of $1.2 billion and operating margins in Europe to a $1 billion decline in revenue in South America, "due to economic environment".

Trump to begin renegotiating NAFTA deal with Mexico, Canada
He added the TPP becomes null and void for Canada without the USA being a part of the agreement. Leaders of both Mexico and Canada are open to new talks about trade.

Its $627 million pre-tax profit in Asia Pacific was its second-best result there. However, when adjusting out that remeasurement and other one-time gains and costs, earnings came $2.1 billion, or 30 cents per share, which matched Thomson Reuters estimates.

Ford's guidance for 2017 remained unchanged.

Critics and industry analysts say a large border tariff, such as a 35% figure Trump has frequently mentioned, would either lead to higher prices on new vehicles, causing sales to drop and would lead to financial losses for the automakers. "The news globally is quite positive".

Ford continues to push its growth from an automotive company to a mobility company.

For the full year, Ford Credit posted a $1.9 billion pre-tax profit, down $207 million from 2015. The company said its pretax profit for 2016 was $10.4 billion, second to a record $10.8 billion reached in 2015.


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