The companies that reported earnings before the markets open on Friday are: Ford Motor, Chevron Corp., Honeywell International, Dominion and Dover.
* Ford Motor Co. (NYSE: F) said quarterly profit fell due to $960 million charge related to the completion of debt conversion offers. Ford reported fourth quarter earnings of $190 million, or 5 cents per share, down from $886 million, or 25 cents per share from the fourth quarter of 2009. Fourth quarter pre-tax operating profit was $1.3 billion or 30 cents per share, down from $1.6 billion or 43 cents a share last year. Revenue fell to $32.5 billion from $35 billion. Analysts, on average, polled by Thomson Reuters expected earnings of 48 cents per share, on revenue of $30.6 billion. Production volumes were 1.35 million units for the quarter and it expects 1.45 million units in the first quarter. Ford said it will pay profit sharing to about 40,600 eligible U.S. hourly employees. The average amount is expected to be around $5,000 per eligible full-time employee. For 2011, the company expects expects each of its Automotive operations to be profitable. Ford also expects solid profitability for Ford Credit in 2011, although at a lower level than 2010. Shares of the company, which ended Thursday's regular trading at $18.79, fell 5 percent to $17.84 in Friday's pre-market trade.
* Chevron Corp. (NYSE: CVX) reported a 71 percent surge in quarterly profit due to higher prices for crude oil, increased production and improved refined product sales margins. The company posted earnings of $5.3 billion or $2.64 per share from $3.1 billion or $1.53 per share a year earlier. Results in the 2010 period included gains of nearly $400 million from downstream asset sales, it said. Sales and other operating revenue rose to $52 billion from $48 billion. Analysts expected CVX to earn $2.40 per share on revenue of $55.97 billion. Worldwide net oil-equivalent production was 2.79 million barrels per day in the fourth quarter, up from 2.78 million barrels per day. CVX closed Thursday's regular trading at $94.75.
* Honeywell International Inc. (NYSE: HON) raised its 2011 earnings per share forecast as it reported a higher quarter profit driven by a 12 percent rise in sales. Proforma earnings per share increased to 87 cents from 83 cents, while reported earnings per share more than doubled to 47 cents from 20 cents. Sales increased to $9.0 billion from $8.1 billion. Analysts expected HON to earn 87 cents a share on revenue of $8.84 billion. Honeywell raised its 2011 earnings guidance to $3.60-$3.80 per share from $3.50-$3.70 per share, excluding items. The company reaffirmed its 2011 sales guidance of $35.0-$36.0 billion. Analysts expect earnings of $3.77 per share on revenue of $35.9 billion for 2011. The company also announced the sale of its Consumer Products Group (CPG) business to Rank Group, a private investment company, for about $950 million. Shares of HON closed Thursday's regular trading at $55.92.
* Dominion (NYSE:D) posted fourth quarter operating earnings of 63 cents a share, flat with the year-ago quarter, lower than analysts expectation of 66 cents a share. GAAP earnings were 43 cents per share, compared with a loss of $0.01 a share. GAAP operating revenue rose to $3.7 billion from $3.2 billion. The company affirmed its 2011 operating earnings guidance of $3.00 to $3.30 per share, while analysts expect $3.17 a share. Shares of the company ended Thursday's regular trading at $43.79.
* Dover Corp. (NYSE: DOV) posted adjusted quarterly earnings per share of $0.94, excluding tax benefits of $0.07, up 71 percent from last year. Revenue rose 24 percent to $1.9 billion driven by organic growth of 23 percent. Analysts expected DOV to earn 82 cents a share on revenue of $1.75 billion. For 2011, it expects earnings per share from continuing operations to be in the range of $4.05 - $4.25 on revenue growth of 9 percent - 11 percent. The stock ended Thursday's regular trading at $59.48.