Ford full-year profit plunges $3.6 billion on slower sales, pension costs

Filed under: Earnings/Financials,Ford

Ford Motor Co.'s profit last year plunged by more than $3.6 billion, weighed down by slowing U.S. sales, the cost of a botched SUV launch and some big pension expenses. The Dearborn, Michigan, automaker said it made $47 million in 2019, down from a $3.68 billion profit a year earlier. For the fourth quarter the company lost $1.7 billion, or 42 cents per share, hit by $2.2 billion in one-time pension costs.

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Ford full-year profit plunges $3.6 billion on slower sales, pension costs originally appeared on Autoblog on Tue, 4 Feb 2020 18:20:00 EST. Please see our terms for use of feeds.

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