Ford Forecasts Q4 $112 Mn Loss Amid Restructuring Costs

Ford said Wednesday it expects to post a $112 million loss in the fourth quarter of 2018 as the automaker implements a massive restructuring in the United States and Europe

Detroit, (UrduPoint / Pakistan Point News - 16th Jan, 2019 ) :Ford said Wednesday it expects to post a $112 million loss in the fourth quarter of 2018 as the automaker implements a massive restructuring in the United States and Europe.

The second biggest US automaker said it will still post a profit after charges stemming from the drive to cut $11 billion in costs.

The firm sees adjusted profit of 30 cents a share during this period, according to the statement, less than the 32 cents anticipated by the markets.

For the full year, Ford will post a net profit of $3.7 billion, less than half the 2017 result.

Adjusted earnings per share are expected to be $1.30 across the year, right at the lower end of its $1.30-1.50 estimate in October.

"Over the last 19 months, we have worked to reshape and transform our company -- sharpening our competitiveness, taking actions to improve our profitability and returns, and investing in our future," Ford CEO Jim Hackett said in a statement.