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Ford (NYSE: F) is roaring into 2014 on a carload of good news.
The automaker beat analysts' expectations with a very strong fourth-quarter earnings report Tuesday. It also announced 2013 to be one of its “best years ever,” with a pre-tax profit of $8.6 billion for last year – an increase of $603 million from 2012.
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The company's total fourth quarter pre-tax profit of $1.3 billion was a decrease of $402 million compared to the same time period a year earlier. But nevertheless it was Ford's 18th consecutive profitable quarter.
Ford says it expects its North American sales to remain strongly profitable as well this year, but at a lower level than in 2013 – due to the launch of 16 all-new or “significantly refreshed” vehicles. It has also scheduled shutdowns at two Ford plants this summer, as the company retools its factories for the new F-150 pickup truck, which features a mostly aluminum body.
Ford also reported a record market share in China, with “breakeven” results in South America and less loss in financially-troubled Europe compared to a year earlier.
Industry experts say the company is very well-positioned to build on its recent achievements.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.