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Ford Beats on Both Top and Bottom Lines

Ford (NYSE: F  ) reported earnings on Feb. 19. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Ford beat expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue grew. Non-GAAP earnings per share expanded significantly. GAAP earnings per share contracted significantly.

Gross margins were steady, operating margins contracted, net margins contracted.

Revenue details
Ford reported revenue of $34.50 billion. The 14 analysts polled by S&P Capital IQ expected a top line of $32.90 billion on the same basis. GAAP reported sales were 5.3% higher than the prior-year quarter's $34.58 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.31. The 20 earnings estimates compiled by S&P Capital IQ predicted $0.25 per share. Non-GAAP EPS of $0.31 for Q4 were 55% higher than the prior-year quarter's $0.20 per share. GAAP EPS of $0.40 for Q4 were 88% lower than the prior-year quarter's $3.37 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 11.9%, about the same as the prior-year quarter. Operating margin was 2.5%, 60 basis points worse than the prior-year quarter. Net margin was 4.4%, 3,500 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $33.72 billion. On the bottom line, the average EPS estimate is $0.40.

Next year's average estimate for revenue is $133.83 billion. The average EPS estimate is $1.42.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 9,696 members out of 12,097 rating the stock outperform, and 2,401 members rating it underperform. Among 1,943 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 1,564 give Ford a green thumbs-up, and 379 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Ford is outperform, with an average price target of $14.66.

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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool recommends Ford and recommends the following options:Long Jan 2014 $10 Calls on Ford and Long Jan 2014 $10 Puts on Ford. The Motley Fool owns shares of Ford. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy

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5/23/2016 4:02 PM
F $13.13 Down -0.06 -0.45%
Ford CAPS Rating: ****