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Ford Motor Q4 Profit Misses Estimates, Revenue Down 5%; Stock Slips

Ford Motor Company (F) reported fourth-quarter adjusted earnings per share of $0.12 compared to $0.30, a year ago. On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $0.15, for the quarter. Analysts' estimates typically exclude special items. Adjusted EBIT were $485 million, down 67 percent, with improved results in China and Europe more than offset by a decline in North America. Ford's Automotive EBIT for the quarter was $215 million, 81 percent lower from last year. Adjusted free cash flow was $498 million, down 67 percent.

For the fourth-quarter, the company reported a net loss of $1.7 billion, or 42 cents per share, which included a $2.2 billion pension and OPEB remeasurement loss.

Fourth-quarter revenue was $39.7 billion, down 5 percent from previous year. Analysts expected revenue of $36.49 billion for the quarter.

Excluding any possible effects from the coronavirus outbreak, for full-year 2020, the company projects: adjusted EBIT of $5.6 billion to $6.6 billion, adjusted free cash flow of $2.4 billion to $3.4 billion; and regular quarterly dividends of 15 cents per share. The company noted that its adjusted EBIT outlook assumes at least nominal growth in the Automotive business, offset by lower EBT from Ford Credit and modestly higher investment in Mobility.

For the first quarter, Ford expects adjusted EBIT to be down more than $1.1 billion from a year ago.

Shares of Ford Motor Company were down nearly 11% after hours.

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