Ford Motor Company has released its financial results for the fourth quarter of 2011. Here are the highlights:
- Revenue of $34.6 billion — up 6% compared to Q4 2010
- Pre-tax operating profit of $1.1 billion or 20 cents per share — a decrease of $189 million compared to Q4 2010
- Net income was $13.6 billion or $3.40 per share — a $13.4 billion increase compared to Q4 2010. One-time special items positively affected net income. What kinds of one-time items? “Net income includes a favorable one-time, non-cash special item of $12.4 billion from release of almost all of the valuation allowance against net deferred tax assets in the fourth quarter.” Got all that? Great.
The Motrolix Take
Overall, these are some very respectable financials. Revenue has increased for the last 4 quarters and the company has posted a pre-tax operating profit for 10 consecutive quarters. Additionally, the increase in net income breaks the streak of two consecutive quarters of year-over-year decreases. In Q3 2011, for instance, net income fell by 2.3%.
As far as analyst predictions and estimates go, FoMoCo beat average revenue estimates of $32.35 billion with $34.6 billion but adjusted net income of 20 cents per share fell short of 27 cents per share expectations.
The way we look at it, nothing takes the pride, joy, conviction, and passion out of something as much as accounting and financials. So let’s just say this: The Blue Oval is a healthy company making the best vehicles in the world that we enjoy driving and talking about; and for that, we’re thankful. End of story.
Stay tuned to Motrolix for independent coverage of Ford Motor Company’s 2011 results.