Today, January 29th, Ford announced its net income reached $5.67 billion in 2012, with almost $300 million less compared with 2011.
The automaker’s fourth consecutive annual profit was sustained by a strong fourth quarter, mainly due to the North American market where Ford posted a pre-tax profit of $1.87 billion. Analysts have predicted that Ford will report an earnings-per-share of 25 cents, but the automaker managed to reach 31 cents per share, as well as full-year earnings per share of $1.41, surpassing analysts’ predictions of $1.34.
“The Ford team delivered strong results once again, underscoring that our One Ford plan is working,” said Alan Mulally, Ford’s president and CEO, in a statement. “We are well-positioned for another strong year in 2013.”
Last year Ford posted a 10.4% profit margin in North America, therefore 45,800 United Auto Workers hourly workers will get profit-sharing checks of about $8,300 to be paid in March. Still, in Europe, losses continued to increase, reaching $1.75 billion in 2012 and the automaker expects other $2 billion to be lost in the region this year. Ford hopes that the 6,200 layoffs and buyouts in the European market will help the company cut these losses.
by Ana Cezara Savin
) - Tuesday, January 29th, 2013 - filed under Ford
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