On Friday, Ford Motor Co reported a lower-than-expected fourth-quarter profit because of higher commodity costs and losses in its automotive operations in Europe and Asia.

The No. 2 U.S. automaker’s operating profit, excluding one-time items, fell to $1.1 billion, or 20 cents per share, from nearly $1.3 billion, or 30 cents per share, a year earlier. According to Thomson Reuters I/B/E/S, analysts, on average, expected an adjusted profit of 25 cents per share.

The company reported a net income of $13.6 billion, or $3.40 per share, buoyed by a one-time tax-related gain of $12.4 billion.

Tags: commodity costs, Ford Motor, Thomson Reuters

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