North America Wholesales of 760K vs. 802K a year ago, with revenue of $21.2B vs. $21.8B. Operating margin of 11.6% up 100 basis points from a year ago. Pre-tax income of $2.44B vs. $2.32B a year ago. Market share dipped 1.2 points to 15.3%. For FY14, Ford (NYSE:F) expects pre-tax profit to be lower than 2013 and operating margin in the 8-9% range.
South America Wholesales of 114K vs. 147K a year ago, with pre-tax loss of $295M vs. a profit of $151M a year ago. Ford now expects a larger loss in South America than what it previously guided for.
Europe Wholesales of 376K vs. 377K a year ago, with pre-tax profit of $14M vs. a loss of $306M. Full-year guidance is unchanged.
Asia-Pacific Wholesales of 362K vs. 300K a year ago, with pre-tax income of $159M vs. $130M. Wholesale volume in China gained 26% Y/Y. Company expects full-year profit in 2014 to be higher than a year previous.
Conference calls at 8:30 and 11:30 ET can be heard here.
Previously: Ford Motor beats by $0.03, misses on revenue
Shares +1% premarket