DEARBORN – Ford Motor Company released its preliminary fourth-quarter and full-year 2018 financial results.
Company revenue increased from the prior year in both periods, while net income and company adjusted EBIT were both lower.
North America delivered a fourth-quarter EBIT margin of 7.6 percent and a full-year margin of 7.9 percent. Ford Credit had strong results in the quarter and its best full year earnings before taxes in eight years.
The company ended the year with cash and liquidity balances that were above its targets of $20 billion and $30 billion, respectively.
“We have consistently laid the foundation for the global redesign of our business, clearly investing to sharpen our competitiveness so we can better serve customers and invest for the future,” said Jim Hackett, Ford president and CEO. “Ford enters 2019 with a clear vision, a solid plan, and we are now in execution mode.”
Ford Chief Financial Officer Bob Shanks also noted, “While 2018 was a challenging year, we put in place key building blocks to build a more resilient and competitive business model that can thrive no matter the economic environment. We are confident in our plan to transform our business.”
Shanks said the company balance sheet remains strong, with $23.1 billion of cash and $34.2 billion of liquidity.
Click here to view the company’s fourth quarter and full year financial release.