Summary Box: Ford 1Q earns fall on Europe, taxes

AP News

4/27/2012 4:04:52 PM - AP News

FORD EARNINGS: Ford Motor Co.'s first-quarter net income fell 45 percent from a year earlier to $1.4 billion. Strong North American profits were offset by lower sales in Europe and Asia. The company also started paying a higher tax rate because it's more profitable.

WALL STREET SAYS: Ford earned 39 cents per share without one-time items. That beat the analysts' forecast of 35 cents per share, but Ford's shares still fell on investors' concerns about its outlook.

WHAT'S NEXT: The company announced it will offer lump-sum payouts to 90,000 white-collar retirees and former workers to try to reduce its pension obligations.