Ford Motor Company, the second-largest U.S. automaker, reported fourth-quarter profit that exceeded analysts’ estimates for North America.
Find out which model drove the record results.
Ford Motor Co., the second-largest U.S. automaker, reported fourth-quarter profit that exceeded estimates as demand for its F-Series pickups drove record results for its operations in North America.
Ford reported net income of $5.67 billion for the full year. The profit in 2012 boosts the company’s earnings to $35.2 billion the past four years after losing $30.1 billion from 2006 through 2008.
Increased demand for Dearborn, Michigan-based Ford’s F- Series, which have led the full-size pickup segment in the U.S. for 36 years, is pacing the company’s results at home. F-Series deliveries climbed 10 percent last year to 645,316, surpassing the 4.7 percent gain in Ford’s total U.S. vehicle sales.
Ford’s fourth-quarter revenue rose 5.5 percent to $36.5 billion, beating the $33 billion average estimate of 11 analysts surveyed by Bloomberg.