Ford Posts 2015 Pre-Tax Profit of $10.8 Billion, Makes Gains in Europe

Spurred by strong numbers in North America, Ford recorded a pre-tax profit of $10.8 billion for 2015. That number is up a full $3.5 billion from the previous year.

Revenue ended up at $149.6 billion by the end of 2015, Ford also reported. The company posted a full-year net income of $7.4 billion, an increase of $6.1 billion from the previous year. This figure comes out to $1.84 per share, up $1.53 from a year ago.

Pre-tax profit remained strongest in North America, where the automaker garnered $9.3 billion. In the U.S., Ford achieved its strongest sales numbers since 2005. The company also returned to profitability in Europe after several difficult years. In this region, the automaker managed to move 10 percent more volume, earning a profit of $259 million. The automaker also credits its success in Europe to favorable market conditions and its ability to lower costs during the fourth quarter of the year.

Along with the booming Asia Pacific region, which earned $765 million in profit last year, North America and Europe helped make up for heavy losses in South America. Ford’s new Middle East and Africa business unit scored a modest profit of $31 million.

For 2016, Ford expects its pre-tax results in North America to remain about the same as the previous year, while it forecasts higher results in Europe. Losses in South America are expected to be even greater this year.

Source: Ford

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