Ford Motor Company (NYSE: F) reported a modest increase in sales for the fourth quarter of 2023. Meanwhile, adjusted earnings of the car maker declined by double digits.
December quarter revenue increased 5% year-over-year to $46.0 billion. The top line benefitted from strong growth in the Ford Pro division. Adjusted earnings declined 43% from last year to $0.29 per share during the three months.
On an unadjusted basis, the company reported a net loss of $526 million, or $0.13 per share for Q4, compared to a profit of $1.29 billion or $0.32 per share in the corresponding quarter of 2022.
“We’re the only company that gives customers such a wide range of choices – gas, hybrid, and electric vehicles – made possible by our Ford+ plan and the talented team that’s carrying it out,” said Ford’s president and CEO Jim Farley.