Ford Motor Co.'s stock experienced a significant surge of over 6% in the extended session on Tuesday following the release of its quarterly financial results. The carmaker reported revenue that surpassed Wall Street's expectations, while highlighting the growth of its hybrid-vehicle business.
In the fourth quarter, Ford incurred a loss of $526 million, or 13 cents per share. This outcome stands in contrast to the earnings of $1.3 billion, or 32 cents per share, recorded during the same period last year.
After adjusting for one-time items, including a pre-tax loss related to pensions, the carmaker achieved earnings of 29 cents per share in the quarter. This comfortably surpassed FactSet's consensus for adjusted earnings of 12 cents per share.
Remarkably, revenue soared to $46 billion, up from $44 billion in the previous year—a figure that significantly surpassed FactSet's forecast of $43.1 billion.
Ford shares have observed a modest decline of approximately 8% over the past 12 months. In comparison, the S&P 500 index (SPX) has attained gains of about 20% during the same period.
Ford's impressive quarterly performance showcases its ability to excel in a challenging market. With a strong focus on its hybrid-vehicle business and a commitment to innovation, Ford is well-positioned for future growth and success.