Ford's net income in the fourth quarter rose to $3 billion, or 74 cents a share, from $1.6 billion, or 40 cents a share, from the same period a year earlier. That 2013 figure included a $1.6 billion gain from the addition of deferred tax assets to the balance sheet, along with charges of $311 million for last year's pension buyouts and European layoffs.
Ford took in 31 cents a share in the quarter, which was three cents more than predictions from analysts polled by Thomson Reuters I/B/E/S. Revenue also rose 4% to $37.6 billion, which surpassed analysts' expectations of $35.17 billion. For the fiscal year 2013, Ford pulled in a profit of $7.2 billion, or $1.76 per share.
The U.S. automaker had previously warned that profits would decrease in 2014 as the company releases a record 23 vehicles and builds seven new plants around the world.
TheStreet Ratings team rates FORD MOTOR CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate FORD MOTOR CO (F) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels, good cash flow from operations, increase in stock price during the past year and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."