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Ford Earnings Up 41% in '87

February 18, 1988|Associated Press

DETROIT — Ford Motor Co.'s earnings jumped 19% in the fourth quarter and 41% for all of 1987 as the No. 2 auto maker out-earned General Motors Corp. for the second straight year, Ford said today.

For the final three months of 1987, Ford said it earned $932 million, or $1.87 a share, on revenue of $18.8 billion, up from $785 million, or $1.50 a share, on revenue of $16.26 billion in fourth-quarter 1986. For the year, Ford earned $4.6 billion, or $9.05 a share, on revenue of $71.6 billion.

But Ford stock closed down today because analysts had predicted even higher fourth-quarter earnings.

However the news was a boon to Ford workers, who will receive record profit-sharing pay-outs on March 8. GM workers received no share of 1986 or 1987 profits because the company's U.S. auto earnings were too low.

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