Ford’s Operating Income Slipped 67% on Higher Costs

Ford’s Operating Income Slipped 67% on Higher Costs

For the full year, Ford posted adjusted earnings of $1.19 per share, down from $1.30 a year ago and a penny short of its most recent guidance range .. Adjusted figures exclude the effects of one-time items; Ford took $2.7 billion in one-time charges in Q4 2019 and $1.2 billion in Q4 2018.. Ford took an additional $400 million in one-time charges related to its ongoing restructuring efforts in Europe, South America, and China.. North America: Ford earned $700 million in North America in the fourth quarter, down from about $2 billion a year ago.. Europe: Ford earned $21 million in Europe in the fourth quarter, a big improvement over the $199 million loss it posted in the year-ago period.. For the full year, Ford Europe lost $47 million, a big improvement over its $398 million loss in 2018.. South America: Ford South America lost $176 million in the fourth quarter, a $23 million improvement from a year ago that came despite a 4% decline in revenue and wholesales.. For the full year, Ford South America lost $704 million, slightly worse than the year prior.. For the full year, Ford China lost $771 million, versus a $1.55 billion loss