Ford Motor Company finished 2013 on a high note, posting net income of $3.0 billion in the fourth quarter of 2013 and total net income for the year of $8.6 billion. That’s up from Ford’s net income of $5.7 billion in 2012, and comes on full-year revenue of $146.9 billion.
Although Ford’s fourth-quarter net income was lower than in the fourth quarter of 2012, it marked the 18th consecutive quarter in which Ford has posted a positive profit. The strong results came as Ford finished the year with sales up 10.8 percent compared to 2012.
As a result of the strong financials, Ford plans to distribute profit-sharing checks to approximately 47,000 hourly workers in mid-March. Depending on an employee’s hours, those checks will be around $8800 per worker.
Within North America, Ford reported a full-year pre-tax profit of $1.7 billion. That was down $200 million compared to 2012, which Ford primarily attributes to a Ford Escape recall that cost the automaker $300 million. In Europe, meanwhile, Ford continued to lose money, but its full-year pre-tax loss of $571 million is an improvement of $161 million compared to 2012. Even though the European new-car market contracted, Ford says that its profit margin increased — to -5.8 percent.
Ford also said today that it produced 6.4 million vehicles worldwide last year, of which 3.1 million were assembled in the U.S.