Ford Motor (NYSE: F) Reports $6.6 Billion FY 2010 Net Income; Q4 Results Disappoint
Friday, January 28, 2022 4:48 PM

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Ford Motor Company (NYSE: F), a producer of cars and trucks, has earned its biggest profit in more than a decade in 2010 as robust vehicle sales and years of cost cuts paid off. But disappointing fourth-quarter results rattled investors Friday and sent the company's stock price lower.

Ford shares fell 12 percent to $16.63 in late morning trade. The reaction showed the difficulties Ford faces, even though it has remade itself over the last four years.

Ford's net income totaled $6.6 billion, or $1.66 per share last year, more than double the $2.7 billion, or 86 cents, from 2009.
But the company’s net income in the fourth quarter of 2010 dropped 79 percent to $190 million, or 5 cents per share. Results included a big charge for lowering its debt.

Ford said it warned investors about the one-time charges but didn't keep them updated when it decided to pull back on incentive spending in Europe, which led to a drop in sales and profits there. The company said it also spent more marketing new products like the Ford Explorer in the fourth quarter.

The shares of the company are trading at $16.27, down 13.41 percent.
 

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