Ford's 4Q Contains No Big Surprises
Ford reported fourth-quarter results that missed consensus earnings per share of $0.31 by a penny but gave us no reason to change our fair value estimate. We will publish a new report and any updates to our fair value estimate in February after we incorporate the 10-K filing into our model. There were not many surprises in the quarter because management reconfirmed its full-year 2016 guidance earlier this month. However, full-year total company pretax income of $10.4 billion slightly beat the gu...Ford Motor designs, manufactures, markets, and services a line of Ford cars, trucks, sport utility vehicles, electrified vehicles, and Lincoln vehicles, as well as provides financial services through its subsidiary, Ford Motor Credit Company LLC. The company is engaged in electrification; mobility solutions, including self-driving services; and connected vehicle services. The company has three operating segments: Automotive, which includes the sale of Ford and Lincoln vehicles, service parts, and accessories; Mobility, which includes its autonomous vehicles and its investment in mobility through Ford Smart Mobility LLC; and Ford Credit, which includes vehicle-related financing and leasing activities.
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