Ford swings to quarterly profit

Reuters News
Posted: Jan 24, 2018 4:25 PM

DETROIT (Reuters) - Ford Motor Co <F.N> on Wednesday reported a quarterly net profit, versus a loss in the same period in 2016 caused by pension liabilities, but said its pre-tax profit was hit by commodity costs and unfavorable currency exchange rates.

The No. 2 U.S. automaker reported quarterly net income of $2.41 billion or 60 cents per share, versus a loss of $781 million or 20 cents per share a year earlier. Adjusted for one-time items, Ford reported earnings per share of 39 cents. On that basis, analysts had on average expected earnings per share of 42 cents.

(Reporting By Nick Carey, additional reporting by Paul Lienert; Editing by Tom Brown)