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Ford Motor Misses Fourth-Quarter Earnings Estimate

Ford offers glum outlook for 2020 results.
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Ford Motor  (F) - Get Free Report missed fourth-quarter earnings expectations and offered a disappointing outlook for 2020 after the bell Tuesday.

The maker of popular F-150 pickup trucks reported adjusted earnings of 12 cents a share on revenue of $39.7 billion. A survey of 16 analysts by FactSet forecasted the company would make 17 cents a share, on sales of $39.6 billion

In the same period a year ago, the company posted earnings of 30 cents a share on sales of $41.8 billion.

"Financially, the company’s 2019 performance was short of our original expectations, mostly because our operational execution – which we usually do very well – wasn’t nearly good enough, Jim Hackett, Ford president and chief executive officer, said in a statement. "We recognize, take accountability for and have made changes because of this.”  

Ford offered an earnings forecast of 94 cents a share to $1.20 a share excluding any impact from the coronavirus outbreak. Analysts had been forecasting full year earnings of $1.31.

Ford shares fell more than 10% in after-hours trading.

Ford says its plans for new and "refreshed" vehicle lines this year include:

-F-150, including a first-ever hybrid-electric version 

-A small off-road utility vehicle 

-The first of 30 market-specific Ford and Lincoln vehicles in China, 10 of which will be electric – over the next three years

-Electrified versions of the Lincoln Corsair and Ford Escape/Kuga.  

Ford's experience stood in marked contrast to electric vehicle maker Tesla  (TSLA) - Get Free Report whose shares rose sharply for a second day Tuesday.