Ford Motor Company (NYSE: F) reported 2017 fourth quarter and full year financial results on Wednesday, highlighting that the companies quarterly revenue went up 7% driven by the higher wholesale volume, and full year revenue up 3%.
In 4Q the company recorded an increase in wholesale volume of up to 5% in the North America market. In South American market, the pre-tax loss improved 33% from a year ago. However, in other markets such as Asia Pacific, Middle East and Africa, the wholesale volume went down.
Net income of Ford in 2017 was $7.6B, up 65% from a year ago. Ford Credit pre-tax profit was $2.3B, up 23% compared to a year ago. And according to Ford CFO Bob Shanks, Ford’s balance sheet remains strong and the company is focused on improving future results "We remain committed to providing value to our shareholders including expected distributions totaling about $3.1 billion in 2018,” said Bob Shanks.
For 2018, Ford announced that 23 global products will be launched, and the expected adjusted EPS is in the range of $1.45 to $1.70. "In 2017 we made tremendous progress in laying the foundation for our strategy — smart vehicles in a smart world – From accelerating our connected vehicles plans to expanding our AV and ER work,” said Ford CEO Jim Hackett. “As we move into 2018, we are intensely focused on improving the operational fitness of our business to deliver strong results while continuing to build toward our vision of the future."