Ford Motor Company has posted a pre-tax profit of $8 billion for the full year 2012, credited to the record-breaking results in North America and the competent performance of Ford Credit. For the full year, it reported a pre-tax profit of $8 billion, or $1.41 per share, as well as a net income of $5.7 billion, or $1.42 per share.
These figures are both lower than the previous year. If we exclude the effect of 2011 revisions in the valuation allowance against deferred tax assets, Ford’s fourth quarter net income was $565 million higher than 2011. Meanwhile, its full year would be $307 million lower than a year ago. Ford also posted a pre-tax profit in the fourth quarter of $1.7 billion, or $0.31 per share, a climb of $577 million from 2011. Ford revealed a pre-tax profit for 14 straight quarters.
It posted a fourth quarter net income of $1.6 billion, or $0.40 per share. In the fourth quarter, Ford recorded a positive Automotive operating-related cash flow of $1 billion - the 11th straight quarter of achieving a positive performance. It also generated a positive Automotive operating-related cash flow of $3.4 billion for the entire year. Ford ended last year with an Automotive gross cash of $24.3 billion, surpassing debt by $10 billion.
It also achieved a strong liquidity position of $34.5 billion, a $2.1 billion increase over 2011. Alan Mulally, Ford president and CEO, said that the Ford team posted strong results once more, proving that its One Ford plan is achieving results. He said that the company is “well positioned” to achieve another strong year in 2013, as it pursues its plan to be present in all markets worldwide with a full lineup of vehicles – whether it’s small, medium and large or cars, utilities and trucks. It comes with the highest “quality, fuel efficiency, safety, smart design and value.”