On Thursday morning, Ford Motor Company (F ) released its fourth quarter financial results, reporting a 98% drop in quarterly profits.
F's Earnings in Brief
- Ford reported net income of $52 million, or 1 cent per share, down 98% from $3.066 billion, or 75 cents per share, last year.
- Excluding special items, Ford’s profit came in at 26 cents per share, down from 32 cents per share a year ago. On average, analysts expected to see earnings of 23 cents per share.
- Revenue declined to $35.9 billion from $37.6 billion. Analysts expected to see sales of $34.54 billion.
Ford’s CEO Mark Fields commented: “2014 was a solid yet challenging year for Ford — with our investments and a record number of new products launched around the world positioning us for strong growth this year and beyond.”
Ford will pay its next 15 cent dividend on March 2. The stock went ex-dividend on January 28. This most recent dividend is a 20% increase from the company’s prior dividend payout.
Shares of Ford were up 34 cents, or 2.35%, during pre-market trading Thursday.