Saturday, February 1, 2014

Ford profit beats estimates on strength in North America

Ford profit beats estimates on strength in North America
Ford Motor on Tuesday higher than expected quarterly profit as strength in the number 2 of the core U.S. automakers posted North American market to compensate for losses in Europe and South America.

The company, whose shares have risen more than 3 percent, confirmed the earnings prospects for 2014, which last month presented investors. Ford has described as a transitional year 2014, on the sample of CEO Alan Mulally Team and restructuring of the company provide that the strength, since he took over in 2006.

Ford has in the last month, that the costs for the introduction of new vehicles and a deteriorating Venezuelan economy delle its profit this year would. The messages sent, delete the shares of the company on its biggest one day percentage in more than two years.

The stock regained however ground after Mulally speculation nullified earlier this month, that he would leave Ford for the top job at Microsoft. He stressed that he remains long-term strategy engaged in the day-to-day business of the company, as well as setting.

Ford's net profit in the fourth quarter rose to $3 billion, or 74 cents per share, compared with nearly $1.6 billion, or 40 cents per share in the previous year.

The results include a $2.1-billion profit from the addition of the deferred tax assets in the balance sheet, as well as the fees of $311 million for last year pension of buyouts and layoffs in Europe.

Excluding the non-recurring effects, Ford earned 31 cents a share, 3 cents more than analysts polled by Thomson Reuters I/B/E/S had expected.

Sales rose 4 percent to $37.6 billion, above the expectations of analysts of $35,17 billion.

On Tuesday, Ford said that it expected car still a global profit this year of between $7 billion and $8 billion, with lower operating margins.

The company said, that its worldwide pension plans underfunded 2013 were $9 billion at the end of, an improvement of $10 billion from the end of 2012 and $1 billion better than it had previously forecast.

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