Ford Reports A Quarterly Loss, Remaining Downbeat Forecast for 2017
Shares of Ford Motor Company lost nearly 1% in premarket trade on Thursday after the No. 2 U.S. automaker reported a loss of $783 million, or 20 cents per share for the fourth quarter.
The loss in the quarter was due to a $3 billion non-cash accounting re-measurement announced last week. Excluding one-time items, Ford earned 30 cents a share, matching the estimates of analysts.
For the full year, net income came in at $4.6 billion, or $1.15 per share. Revenue for the three-month quarter ending December hit $38.7 billion, above the $35.0 billion consensus estimate. The company did not make the year-earlier revenue available.
Looking toward 2017, Ford maintained a forecast that calls for less profit than 2016.
Sell Stop at 12.68, Take profit 12.00, Stop loss at 13.00