Auto maker Ford Motor Company (F) on Tuesday posted better-than-expected fourth quarter earnings results, but warned of an expected loss in its European segment in 2013.
The Dearborn, MI-based company reported fiscal fourth quarter net income of $1.6 billion, or 40 cents per share, compared with $13.61 billion, or $3.40 per share, in the year-ago period. Excluding special items, adjusted profit was 31 cents per share.
Revenue rose 5.5% from last year to $36.5 billion.
On average, Wall Street analysts expected a much smaller profit of 25 cents per share, on lower revenue of $32.94 billion.
Looking ahead, the company noted it expects its European operations to operate at a net loss of around $2 billion in 2013.
Ford shares fell 20 cents, or -1.5%, in premarket trading Tuesday.
The Bottom Line
Ford Motor Company (F) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.