Ford posts $523 million 4Q net loss on accounting charge for pensions but beats analyst estimates

[Omaha Steve]

https://apnews.com/article/ford-net-income-fourth-quarter-2023-2313e8134e7e45f8698b88a3ce8f8449

By TOM KRISHER
Updated 7:10 PM CST, February 6, 2024

DETROIT (AP) — Ford Motor Co. on Tuesday reported that it swung to a net loss in the fourth quarter due to a large accounting charge on pension plans and the effects of a six-week strike at multiple factories by the United Auto Workers union.

The Dearborn, Michigan, automaker posted a $523 million loss from October through December versus a $1.26 billion profit for the same period a year ago.

Excluding one time items, the company made 29 cents per share, beating Wall Street estimates of 12 cents, according FactSet. Revenue for the period was $46 billion, up 4% from a year ago, beating estimates of $43 billion.

Ford reported a $1.7 billion noncash accounting loss during the quarter on remeasurement of pension and other post-retirement employee benefits.

FULL story at link above.

[pwb]

1. They always have to increase those profits.

Never enough to just make a profit, They always have to increase it every year. No matter what.
What is with their three cylinder engine? To my generation that feels like too much. From 12 cylinder to 8 cylinder to 6 cylinder to 4 cylinder was my limit. Maybe a lawn mower engine next eh?

[multigraincracker]

2. Ford authorized 51$ million in stock buy Back in

2023 to up competition to top management.
All of the Big Three spent tons on buy back while crying about union wages.
We need to tax those buy backs hard.