Ford posts lower operating profit as overseas losses weigh [Reuters (UK)]
Ford Motor Company (F)
Last ford motor company earnings: 4/28 04:09 pm
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Source: Reuters
Ford posts lower operating profit as overseas losses weigh | Reuters 2 Min Read DETROIT (Reuters) - Ford Motor Co ( F.N ) on Wednesday posted a lower operating fourth-quarter profit as losses in every global region except for North America weighed on results. “It was not a year we were happy with and the fourth quarter continued that theme,” Chief Financial Officer Bob Shanks told reporters at the headquarters of the No. 2 U.S. automaker, which is restructuring its operations globally. Last week, Ford provided a cloudier 2019 outlook due to tariff costs and uncertainty over Britain’s exit from the European Union. Shanks reiterated on Wednesday that Ford’s extensive presence in the country gave it a great deal of exposure to the effects of Brexit. Ford said on Jan. 10 that it would cut thousands of jobs and look at plant closures in Europe as part of its plan to return to 6-percent operating margin in the region. Ford posted a fourth-quarter net loss of $116 million or 3 cents a shar
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