This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Ford Beats Wall Street Estimates, Sees 'Solid' 2014

DETROIT ( TheStreet) -- Ford's (F - Get Report) earnings and sales beat Wall Street estimates and reiterated that 2014 margins will decline as it introduces new products led by the 2015 F-150 pickup truck. Ford was gaining 0.4% to $15.77 in morning trading.

Net income excluding special items was $1.3 billion, or 31 cents a share. Analysts surveyed by Thomson Reuters had estimated 28 cents. Revenue rose 3.5% to $37.6 billion. Analysts had estimated $35 billion.

With items including pretax special charges of $311 million and favorable tax special items of $2.1 billion, net income was $3 billion, or 74 cents a share.

"We had an outstanding year in 2013, demonstrating that our One Ford plan continues to drive solid results and profitable growth for all," said CEO Alan Mulally, in a prepared statement. "We are well positioned for another solid year in 2014."

Must Read: Ford Shares Rise in 2014 but Analyst Sees South America Headwinds

During the quarter, automotive operating-related cash flow was $500 million.

The company said its outlook for 2014 is unchanged, with pretax profit between $7 billion and $8 billion. Automotive operating margin is expected to be lower, with automotive operating-related cash flow to be positive but substantially lower than in 2013

Ford said it will profit-sharing payments of approximately $8,800 to about 47,000 eligibly hourly employees. It said pension plans were underfunded by $9 billion at year-end 2013, an improvement of about $10 billion from a year earlier. Pension contributions in 2013 total $5 billion in cash, with cash contributions of $1.5 billion expected in 2014 due to improved funding levels.

For the full year, Ford reported pretax profit of $8.6 billion, up from $8 billion a year earlier, marking one of Ford's best years ever. Including items, full-year net income was $7.2 billion. Ford reported full-year market share growth in the U.S., South America and Asia Pacific Africa.

Written by Ted Reed in Charlotte, N.C.

To contact this writer, click here.

Follow @tedreednc

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
F $13.32 0.00%
AAPL $93.24 0.00%
FB $117.81 0.00%
GOOG $701.43 0.00%
TSLA $211.53 0.00%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs