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DEARBORN, Mich. (AP) — Ford Motor Co., which has struggled overseas and saw U.S. sales fall last year, reported its first quarterly net loss in two years Wednesday.
The Dearborn, Michigan, company said it lost $116 million, or 3 cents a share, in the fourth quarter, compared with a $2.52 billion profit a year earlier. It last posted a quarterly loss in the fourth quarter of 2016.
The loss included an $877 million one-time charge to revalue global pension assets due to a late-year market slide.
Ford made $3.68 billion for the full year, but that was only about half ofwhat its net profit was in 2017. NorthAmerica was its only profitable region.
Ford posts quarterly loss amid struggles in Europe, China
The Dearborn, Michigan, company said it lost $116 million, or 3 cents a share, in the fourth quarter, compared with a $2.52 billion profit a year earlier. It last posted a quarterly loss in the fourth quarter of 2016.
The loss included an $877 million one-time charge to revalue global pension assets due to a late-year market slide.
Ford made $3.68 billion for the full year, but that was only about half ofwhat its net profit was in 2017. NorthAmerica was its only profitable region.
Ford posts quarterly loss amid struggles in Europe, China