Ford released its results for its most recently completed quarter before opening bell this morning, topping adjusted earnings estimates at 58 cents per share, compared to the consensus of 51 cents. Sales were $40.3 billion, a 12% year over year increase, compared to the consensus of $36.4 billion.

Ford Motor Company

Ford’s sales climb in most regions

Reported earnings were 47 cents per share as the automaker swung to a profit and saw revenue in three of its five regions climb. Operating profits doubled year over year to $2.6 billion. For the full year, operating profits climbed 48% from 2014 to $10.8 billion, which beat Ford management’s guidance

In North America, Ford recorded record industry sales in the U.S. amid strong demand for its popular F-series pickup trucks, which were the best-selling vehicle in the U.S. for the 34th consecutive year. The automaker became the best-selling commercial vehicle brand in Europe and was the number one vehicle brand in the U.S. in 2015.

Ford’s market share increased by two-tenths of a percentage point year over year to reach 7.3% as sales in South America and Europe improved.

Ford’s European operations return to profit

In North America, Ford posted full year sales of $91.9 billion and set new records for the fourth quarter with all key metrics increasing year over year. The automaker recorded the highest sales in the U.S. since 2005. For this year, management expects the segment’s pretax results to be about the same as 2015.

In South America, Ford’s revenue and operating margin fell due to the continued deterioration of the market. The full year loss was still better than it was a year ago, however, on the back of higher net pricing and market share with sales of $5.8 billion. The fourth quarter pretax loss worsened year over year as a result of lower volumes, mainly in industry. For this year, management expects an increase in pretax losses.

In Europe, Ford returned to profitability with a 10% increase in volume for 2015 although sales slid slightly to $28.2 billion. In constant currencies though, sales were up 8%. Fourth quarter profits climbed by $428 million to reach $131 million due to lower costs and market factors. For this year, management expects an increase in pretax results.

In the Middle East and Africa, Ford saw its first pretax profit in two years since making the area a business unit with sales of $4 billion. Pretax and operating margins increased year over year. For this year, management expects the segment’s results to be equal to or higher than those of this year.

In the Asia Pacific region, sales were $10.7 billion while pretax profits climbed 29% year over year. For the fourth quarter, all key metrics improved significantly, boosting pretax profits.

Ford sales edged higher by 1.18% to $12 per share in premarket trading this morning.