Ford crushes it on earnings for 2015

Ford Mustang GT Black Package 2016

(Ford)

Ford reported fourth-quarter earnings and full-year 2015 financials on Thursday.

Ford beat expectations for the quarter, with earnings of $0.58 a share and revenue of $40.3 billion.

Analysts were looking for earnings of $0.50 a share.

For all of 2015, Ford turned in a profit of $10.8 billion, near the high end of its guidance and the best ever for the company.

Like nearly all automakers doing business in the booming US auto market, Ford enjoyed robust sales of trucks and SUVs in 2015.

Flowing credit, an improved economy, an aging fleet of US vehicles, and cheap gas contributed to a record year for US sales: 17.5 million vehicles rolled off dealer lots.

But the picture in the rest of the world isn't as pretty. Europe has been flat for automakers, while Latin America has been a serious trouble spot. China has historically been strong, but as Chinese growth slows, automakers are expecting a rougher ride in the world's largest auto market.

In a statement, Ford highlighted a return to profitability in Europe. North America led the charge, as the Ford F-150 notched its 34th consecutive year as the best-selling vehicle in the US. Asia Pacific was relative strong, while South America was weak.

In terms of guidance. Ford is looking forward in 2016 to US sales on par with those of 2015 and to improving results in Europe and Asia. It expects continued weakness in South America.

Ford shares have been declining since the end of 2015. In premarket trading Thursday, they were up 2%, to $12.

F Chart 1-28-16

(Screenshot via Yahoo Finance)

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