With the full year of 2013 bringing a pre-tax profit of $8.6 billion, Ford’s is showing one of the best years in their history. This increase of $603 million from last year, full year earning per share increases 21 cents compared to year ago making it a total of $1.62 per share.
After taxes, the full net income for Ford was $7.2 billion. This includes the pre-tax item charges of $1.6 billion and favorable tax special items of $2.2 billion.
2013 was undoubtedly the highest full year for Automotive pre-tax profit in more than a decade. There were record level profits in North America and Asia Pacific Africa. However, in South America they only almost broke even, and in Europe, there was a loss last year.
With wholesale volume and total company revenue up 12 percent and 10 percent respectively there is obvious full year top-line growth compared with the same numbers from a year ago. The growth that is supported by year-over-year market share gains in the U.S., South America and in Asia Pacific Africa. This was driven by the record market share in China and higher retail share in Europe. Overall, it is easy to see that Ford Credit is solidly profitable. Just in the fourth quarter, the total company pre-tax profit was $1.3 billion. However, this decreased $402 million compared to the same quarter last year. It does mark the 18th consecutive quarter of profitability. The fourth quarter earnings per share of 31 cents are unchanged from 2012.
For 2014, Ford’s outlook in unchanging. Another solid year is expected from Ford with total company pre-tax profit to range from $7 billion to $8 billion. Automotive revenue is also expected to be about the same as last year while the Automotive operating margin will be lower. While still positive, the Automotive operating-related cash flow will be substantially lower than 2013.
Ford’s growth is just one more example of why they are they best. It doesn’t matter if you want to buy a new of Used Ford near St. Jacob.