Ford crushes it on earnings for 2015
For the quarter, Ford beat expectations, with earnings of $0.58 per share and revenue of $40.3 billion.
Analysts were looking for earnings of $0.50 per share.
For all of 2015, Ford turned in a profit of $10.8 billion, near the high end of its guidance - and the best ever for the company.
Like nearly all automakers doing business in the booming US auto market, Ford enjoyed robust sales of trucks and SUVs in 2015.
Flowing credit, an improved economy, and aging fleet of US vehicles, and cheap gas contributed to a record year for US sales: 17.5 million vehicles rolled off dealer lots.
However, the picture in the rest of the world isn't as pretty. Europe has been flat for automakers, while Latin America has been a serious trouble spot. China has historically been strong, but as Chinese growth slows, automakers are expected a rougher ride in the world's largest auto market.
In Europe, Ford highlighted a return to profitability in a statement. North America led the charge, as the Ford F-150 notched its 34th consecutive year as the bestselling vehicle in the US. Asia Pacific was relative strong, while South America was weak.
In terms of guidance. Ford is looking forward in 2016 to US sales on par with 2015 and to improving results in Europe and Asia. South American is expected to show continued weakness.
Ford shares have been declining since the end of 2015. In pre-market trading Thursday, they were up 2%, to $12.
