Hackett mentioned Ford laid the inspiration final yr “for a a lot stronger, extra resilient and extra dynamic enterprise. A enterprise that we need to inform you may thrive now and sooner or later.”
This is how the corporate did in contrast with what Wall Road anticipated, based mostly on common estimates compiled by Refinitiv:
— Adjusted earnings per share of 30 cents vs. a forecast of 32 cents per share
— Automotive section income: $38.7 billion vs. a forecast of $36.88 billion
Ford took a $1.18 billion cost for “particular objects” that have been excluded from its adjusted earnings. The fees stem principally from pension and layoff prices. On an unadjusted foundation, Ford misplaced $116 million, or three cents a share, in the course of the fourth quarter. It generated a revenue of $2.52 billion, or 63 cents per share, a yr earlier.
The corporate’s complete income was $41.eight billion in the course of the quarter, barely increased than its $41.three billion in income throughout the identical quarter final yr.
“Whereas 2018 was a difficult yr, we put in place key constructing blocks to construct a extra resilient and aggressive enterprise mannequin that may thrive irrespective of the financial surroundings,” Shanks mentioned in a press release.
Regardless of the losses, Ford expects to have the ability to absolutely fund its enterprise and capital wants in 2019, whereas conserving money and liquidity at or above goal ranges, Shanks mentioned.
On an adjusted foundation, the corporate earned 30 cents a share, which missed analyst expectations of 32 cents per share, based on analysts surveyed by Refinitiv. It was additionally lower than the 39 cents a share the corporate reported in the identical quarter of 2017.