Ford posts 2014 pre-tax profit of $6.3 billion
Ford Motor Co. on Thursday reported 2014 pre-tax profit of $6.3 billion, down $2.3 billion from a year ago because of a record number of product launches, overseas economic trouble and recall costs that cut into the bottom line.
The Dearborn automaker’s fourth-quarter pre-tax profit was $1.1 billion, down $197 million from a year ago.
Ford also said Thursday about 50,000 hourly workers will receive up to $6,900 in profit-sharing checks, which go out March 12. Last year, Ford hourly workers received up to $8,800.
“2014 was a solid, yet challenging year for Ford — with our investments and a record number of new products launched around the world positioning us for strong growth this year and beyond,” President and CEO Mark Fields said in a statement.
Ford beat analyst estimates by postin
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