Ford_News
12-18-2013, 02:34 PM
Filed under: China (http://www.autoblog.com/category/china/), Europe (http://www.autoblog.com/category/euro/), Ford (http://www.autoblog.com/ford/), Earnings/Financials (http://www.autoblog.com/category/earnings-financials/), South America (http://www.autoblog.com/category/south-america/)
http://hss-prod.hss.aol.com/hss/storage/adam/f174f03841ea714b2c6532d46e312975/876ba2be3c3c4a1d90a4be9f6b7a0092-2.jpeg (http://www.mnfords.com/2013/12/18/ford-shares-fall-on-news-of-lower-profits/#continued)
Ford (http://www.autoblog.com/ford/) has released projections for its 2013 profits, along with predictions of its 2014 earnings, and the news has forced the company's stock to stumble (https://www.google.com/finance?q=NYSE:F), falling over seven percent as of this writing. The Blue Oval is expecting earnings of $8.34 billion for 2013, although the bulk of that is coming largely from its North American operations, as troubles abroad continue to take a toll.
Calling 2013 an "outstanding" year, Ford expects its revenue to be up about 10 percent, thanks to gains in market share everywhere but Europe (http://www.autoblog.com/tag/europe/). But it's 2014 predictions that are causing stock prices to fall, as the Dearborn-based manufacturer expects pre-tax profits to fall to $7 to $8 billion, because of troubles in both Europe and South America (http://www.autoblog.com/tag/south+america/), according to a report from Reuters (http://www.cnbc.com/id/101282505). This is despite an expansion plan that will see it open an additional factory in the southern hemisphere, as well as two plants in China (http://www.autoblog.com/tag/china/), all in a bid to launch 23 new or refreshed products next year (http://www.autoblog.com/2013/12/13/ford-adding-5-thousand-jobs-3-plants-23-vehicles/).
The issues in South America aren't so much related to a fall in sales - Ford expects improved profits in Brazil and Argentina - but because of currency devaluations in Venezuela that are projected to cost it around $350 million. While that would still allow it to break even with 2013, Ford cites continued economic risks that could push losses even higher.
Europe, meanwhile, remains a thorn in the side as Ford works to restructure its operations there, with a projected cost of $400 million. Part of the 23-vehicle launch schedule will also take a toll in Europe, as it projects increased spending for launches and engineering costs.
There's an extensive press release detailing Ford's financials available below (http://www.mnfords.com/2013/12/18/ford-shares-fall-on-news-of-lower-profits/#continued).Continue reading Ford shares falling on news of lower-than-expected profits next year (http://www.autoblog.com/2013/12/18/ford-shares-fall-on-news-of-lower-profits/)
Ford shares falling on news of lower-than-expected profits next year (http://www.autoblog.com/2013/12/18/ford-shares-fall-on-news-of-lower-profits/) originally appeared on Autoblog (http://www.autoblog.com) on Wed, 18 Dec 2013 15:31:00 EST. Please see our terms for use of feeds (http://www.mnfords.com/rss-term-of-use/).
Permalink (http://www.autoblog.com/2013/12/18/ford-shares-fall-on-news-of-lower-profits/) | Email this (http://www.autoblog.com/forward/20791290/) | Comments (http://www.autoblog.com/2013/12/18/ford-shares-fall-on-news-of-lower-profits/#comments)
More... (http://www.autoblog.com/2013/12/18/ford-shares-fall-on-news-of-lower-profits/)
http://hss-prod.hss.aol.com/hss/storage/adam/f174f03841ea714b2c6532d46e312975/876ba2be3c3c4a1d90a4be9f6b7a0092-2.jpeg (http://www.mnfords.com/2013/12/18/ford-shares-fall-on-news-of-lower-profits/#continued)
Ford (http://www.autoblog.com/ford/) has released projections for its 2013 profits, along with predictions of its 2014 earnings, and the news has forced the company's stock to stumble (https://www.google.com/finance?q=NYSE:F), falling over seven percent as of this writing. The Blue Oval is expecting earnings of $8.34 billion for 2013, although the bulk of that is coming largely from its North American operations, as troubles abroad continue to take a toll.
Calling 2013 an "outstanding" year, Ford expects its revenue to be up about 10 percent, thanks to gains in market share everywhere but Europe (http://www.autoblog.com/tag/europe/). But it's 2014 predictions that are causing stock prices to fall, as the Dearborn-based manufacturer expects pre-tax profits to fall to $7 to $8 billion, because of troubles in both Europe and South America (http://www.autoblog.com/tag/south+america/), according to a report from Reuters (http://www.cnbc.com/id/101282505). This is despite an expansion plan that will see it open an additional factory in the southern hemisphere, as well as two plants in China (http://www.autoblog.com/tag/china/), all in a bid to launch 23 new or refreshed products next year (http://www.autoblog.com/2013/12/13/ford-adding-5-thousand-jobs-3-plants-23-vehicles/).
The issues in South America aren't so much related to a fall in sales - Ford expects improved profits in Brazil and Argentina - but because of currency devaluations in Venezuela that are projected to cost it around $350 million. While that would still allow it to break even with 2013, Ford cites continued economic risks that could push losses even higher.
Europe, meanwhile, remains a thorn in the side as Ford works to restructure its operations there, with a projected cost of $400 million. Part of the 23-vehicle launch schedule will also take a toll in Europe, as it projects increased spending for launches and engineering costs.
There's an extensive press release detailing Ford's financials available below (http://www.mnfords.com/2013/12/18/ford-shares-fall-on-news-of-lower-profits/#continued).Continue reading Ford shares falling on news of lower-than-expected profits next year (http://www.autoblog.com/2013/12/18/ford-shares-fall-on-news-of-lower-profits/)
Ford shares falling on news of lower-than-expected profits next year (http://www.autoblog.com/2013/12/18/ford-shares-fall-on-news-of-lower-profits/) originally appeared on Autoblog (http://www.autoblog.com) on Wed, 18 Dec 2013 15:31:00 EST. Please see our terms for use of feeds (http://www.mnfords.com/rss-term-of-use/).
Permalink (http://www.autoblog.com/2013/12/18/ford-shares-fall-on-news-of-lower-profits/) | Email this (http://www.autoblog.com/forward/20791290/) | Comments (http://www.autoblog.com/2013/12/18/ford-shares-fall-on-news-of-lower-profits/#comments)
More... (http://www.autoblog.com/2013/12/18/ford-shares-fall-on-news-of-lower-profits/)