Ford stock (F) pulled higher after hours after the automaker reported fourth quarter sales that easily topped expectations and projected a full-year profit outlook that beat estimates, though the company still sees more losses for its EV unit. The results come after GM (GM) reported strong results and profit guidance last week that indicated strength in the overall US auto sector.
Ford reported top-line revenue of $46 billion vs. $40.35 billion estimated by Bloomberg, which is $2 billion more than a year ago despite the lingering effects of the United Auto Workers (UAW) strike in early Q4. In terms of profitability, Ford reported adjusted earnings per share of $0.29 vs. $0.13 estimated, on adjusted EBIT (earnings before interest and taxes) of $1.1 billion, vs. the $988.2 million expected.
For the year, Ford notched $10.3 billion adjusted EBIT, at the higher end of its full-year 2023…