UPDATE: Ford Motor Co. (F) Tops Q4 EPS by 6c; Sees Higher Q1 Production

January 29, 2013 7:00 AM EST
(Updated - January 29, 2013 7:12 AM EST)

Ford Motor Co. (NYSE: F) reported Q4 EPS of $0.31, $0.06 better than the analyst estimate of $0.25. Revenue for the quarter came in at $36.5 billion versus the consensus estimate of $33.17 billion.

UPDATE - As a result of Ford's 2012 financial performance, the company will make profit sharing payments to approximately 45,800 eligible U.S. hourly employees on March 14, 2013. As part of the UAW-Ford collective bargaining agreement, Ford North America pre-tax profits of $8.3 billion will generate approximately $8,300 per eligible employee on a full year basis. Individual profit sharing payments may be higher or lower based on employee compensated hours.


In the fourth quarter, total company production was about 1.5 million units, 125,000 units higher than a year ago. This is 13,000 units higher than Ford's most recent guidance.

For the full year, Ford produced 5.7 million units, up 54,000 from a year ago.

The company expects first quarter production to be about 1.6 million units, up 160,000 units from a year ago, reflecting higher volume in all regions except Europe. Compared with the fourth quarter, first quarter production is up 72,000 units.


Sees FY13 North American industry volume of 15 million to 16 million units, Europe at 13 million to 14 million, and China of 19.5 million to 21.5 million. Europe is the only segment with flat expectations.

Ford sees FY13 pre-tax profit about flat, operating margins flat to lower, and operating-related cash flow higher.

"Our focus this year will be to continue our strong performance in North America and at Ford Credit, while at the same time, addressing challenges and opportunities in other parts of our business," said Bob Shanks, Ford chief financial officer. "In Europe this means executing our transformation plan, while in South America we will continue to refresh our entire product line-up, and in Asia Pacific we will continue to invest for even stronger, profitable growth in the future."

For earnings history and earnings-related data on Ford Motor Co. (F) click here.

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