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Monday, March 20, 2023

Ford (F) This fall full 12 months 2022 outcomes: beats income misses earnings

Ford (F) launched its fourth quarter and full-year 2022 outcomes after market shut right now, beating on income however lacking earnings in a disappointing exhibiting.

Ford EV gross sales and earnings expectations in 2022

Earlier right now, we posted a rundown of what you’ll be able to anticipate from Ford’s upcoming This fall earnings outcomes.

After ramping up electrical automobile manufacturing all year long, Ford bought a report 61,575 items in 2022, up 126% year-over-year (YOY), making it the second largest EV maker in america behind Tesla.

The Ford F-150 Lightning is the best-selling EV truck since its launch in Could, promoting 15,617 items up to now (by way of December 2022).

Ford can also be dominating the electrical van market with its E-Transit, claiming 73% of the section promoting 6,500 EV vans in 2022. The Mach-E SUV continues constructing momentum, with gross sales climbing 45.4% in 2022 to 39,458, making it one of many top-selling EVs of the 12 months.

As for earnings, Wall Avenue expects Ford to report $0.62 EPS on $40.73 billion in income. Estimize is projecting barely greater at $0.63 EPS and income of $41.49 billion.

Gross margins will likely be one other key determine to look at. In This fall 2021, Ford’s gross margins had been 10.99%. Earlier this week, Ford slashed costs on its well-liked Mustang Mach-E because the EV competitors heats up.

Ford This fall 2022 monetary outcomes

After market shut, Ford launched its This fall and full-year earnings outcomes for 2022, barely beating income expectations however lacking EPS.

Ford reported $41.8 billion in income in comparison with Wall St. expectations of $40.73 billion. EPS fell to $0.51 in comparison with estimates of $0.62. Regardless of the disappointing outcomes, Ford’s CEO Jim Farley believes 2023 will likely be a “pivotal 12 months” because it rolls out its Ford+ plan.

Farley added that the corporate left about $2 billion in earnings on the desk, which ought to have been within the firm’s management.

Ford This fall 2022 earnings outcomes

Altogether Ford posted a full-year internet lack of $2 billion in 2022 as greater enter prices and lower-than-planned volumes reduce into margins. Ford ended the 12 months with $32 billion in money and $48 billion in liquidity.

The automaker is now organized and can report earnings in three enterprise segments, together with its EV unit, Ford Mannequin e, to present a complete overview of the corporate’s efficiency.

Ford inventory is trending down (-6%) after hours on the outcomes after climbing 22% in 2023 up to now.

We’ll preserve you up to date with vital EV information from Ford’s earnings and the convention name that follows. Refresh for the newest info.

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