Lawler reconfirmed the automaker expects Model e to report a positive EBIT margin of 8% by the end of 2026, including its first-generation EVs by 2024.įord is reporting its quarterly financial results by business unit, instead of by region, for the first time. The automaker said both business segments were profitable in every region where they operate. Those losses were washed out, however, by the company's traditional car business, known as Ford Blue, which earned $2.6 billion, and the automaker's Ford Pro fleet operations, which reported $1.4 billion in earnings. Ford said the operations' loss widened to $722 million in the first quarter from $380 million a year earlier as it ramps up EV production. Ford said it plans to have capital expenditures of between $8 billion and $9 billion in 2023.įord also reconfirmed it expects to lose about $3 billion from its electric vehicle operations, known as Model e, in 2023. The company reiterated it expects full-year adjusted earnings between $9 billion and $11 billion and roughly $6 billion in adjusted free cash flow. "I hope that becomes a trend at Ford, boringly predictable when it comes to execution and delivering financials, but extremely ambitious in dynamically creating the Ford of the future," Farley said. $36.08 billion expectedįarley said during the earnings call that the company had a "solid quarter while making real progress on our Ford+ growth plan." Automotive revenue: $39.09 billion vs.Earnings per share: 63 cents, adjusted, vs.Here's how Ford did during the quarter, compared with what Wall Street expected based on average estimates compiled by Refinitiv: Personal Loans for 670 Credit Score or Lowerįord finance chief John Lawler said the quarter was a "peek at what's possible to generate value and growth." His comments come months after CEO Jim Farley said the company failed to capitalize on $2 billion in additional profits last year due to "execution issues." Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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