Ford today reported a 2006 full-year net loss of $12.7 billion, or $6.79 per share — the company’s worst year in over 100 years of operation. Excluding special items, Ford’s 2006 full-year after-tax loss from continuing operations totaled $2.8 billion, or $1.50 per share. This compares to year-ago earnings from continuing operations of $1.9 billion, or $1.00 per share, excluding special items. “Special items” include nearly $10 billion in restructuring efforts and fixed asset impairments.
Full-year sales and revenue for 2006 was $160.1 billion, compared to $176.9 billion a year ago. For the full year, Ford’s worldwide Automotive sector reported a pre-tax loss of $5.2 billion, compared to a pre-tax loss of $993 million a year ago. For the fourth quarter, Ford’s worldwide Automotive sector reported a pre-tax loss of $2.5 billion, compared to a pre-tax loss of $109 million a year earlier.
For 2006, Ford’s North America Automotive operations reported a pre-tax loss of $6.1 billion, compared to a loss of $1.5 billion in 2005. For the year, North America’s sales totaled $69.4 billion, compared to $80.6 billion a year ago. For the fourth quarter, North America Automotive operations reported a pre-tax loss of more than $2.8 billion, compared to a pre-tax loss of $217 million in 2005.
