Ford

Ford beats Q4 earnings estimates, announces $29 billion electric and autonomous car plan

Ford beat Wall Street estimates with adjusted fourth-quarter earnings of 34 cents per share on $33.2 billion in revenue versus an expected loss of 7 cents on $32.89 billion, but reported a full-year net loss of $1.3 billion, its first since 2008.

The automaker also announced a near doubling of its investments in electric vehicles to $22 billion through 2025, with an additional $7 billion earmarked for autonomous car development.

“We are accelerating all our plans – breaking constraints, increasing battery capacity, improving costs and getting more electric vehicles into our product cycle plan,” CEO Jim Farley said in a press release on the results. “People are responding to what Ford is doing today, not someday.”

During Ford’s earnings call,

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Ford Posts Profit Beat, Pledges $29B for EVs and Autonomous Vehicles

Ford Motor  (F) – Get Report beat Wall Street’s fourth-quarter earnings expectations and promised to invest $29 billion into electric and autonomous vehicles.

Shares of the Dearborn, Mich., auto major were up 1.2% to $11.68 in after hours trading.

Ford reported a net loss of $2.8 billion, or 70 cents a share, compared with a loss of $1.7 billion, or 42 cents a share, a year earlier.

Adjusted profit came to 34 cents a share, while analysts surveyed by FactSet expected Ford to report a loss of 7 cents a share.

Revenue totaled $36 billion, compared with the year-ago total of $39.7 billion. The FactSet consensus called for $36.8 billion in revenue. 

Retail sales in China were up 30%, the company said, faster than the overall industry, as Ford recorded its fourth straight quarter of share growth.

“The transformation of Ford is happening and so is our leadership

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Ford reports loss in Q4, boosts investment in electric cars

  • Ford reported its earnings for the final quarter of 2020 on Thursday. 
  • The automaker reported a $2.8 billion net loss in the fourth quarter. 
  • It also said it’s “doubling down” on electric vehicles, and committed billions to electrification.
  • Visit the Business section of Insider for more stories.

Ford on Thursday more than doubled the amount of money it plans to invest in electric and autonomous vehicles to $29 billion, even as it posted a fourth-quarter net loss of $2.8 billion.

The No. 2 US automaker also said the global semiconductor chip shortage could lead to a 10% to 20% loss in first-quarter production.

For the year, Ford reported a net loss of $1.3 billion, or 32 cents a share, compared with a modest profit the previous year of 1 cent a share.

Ford previously said it expected a 2020 profit of between $600 million and $1.1 billion.

Ford had a

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Ford reports quarterly loss that tops $2 billion, increases investment in electric vehicles

Ford Motor Co. late Thursday reported a wider-than-expected quarterly loss, but the stock traded higher as Wall Street focused on the auto maker’s renewed push toward autonomous and electric vehicles.

Ford
F,
+1.52%
said it lost $2.8 billion, or 70 cents a share, in the quarter, compared with a loss of $1.7 billion, or 42 cents a share, in the year-ago quarter. Sales fell to $36 billion from $39.7 billion a year ago.

Analysts polled by FactSet had expected Ford to report a GAAP and adjusted loss of 7 cents a share on sales of $36.8 billion.

Ford said it increased its “commitment to invest in growth,” planning to spend more than $22 billion in electric vehicles and $7 billion in autonomous vehicles. The investment in EVs is nearly double an earlier allocation, the company said.

“The transformation of Ford is happening and so is our leadership of the EV

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Ford Earnings: What Happened With F

Key Takeaways

  • Adjusted EPS was $0.34 vs. the -$0.07 analysts expected.
  • Revenue missed analyst expectations.
  • Total U.S. truck sales declined YOY.
  • Ford is continuing to invest in EV and autonomous driving technology, but is cutting F-150 production due to chip shortage.

What Happened

Ford reported Q4 FY 2020 adjusted EPS that surpassed analyst forecasts by a wide margin. Revenue, however, narrowly missed expectations. Ford’s total U.S. truck sales for the quarter, results of which were published in January, declined compared to the same three-month period a year ago.

Ford indicated that it was allocating billions of dollars of capital towards investments in electric vehicle (EV) and self-driving technology. “The transformation of Ford is happening and so is our leadership of the EV revolution and development of autonomous driving,” said President and CEO Jim Farley. Ford also confirmed it is cutting F-150 production due to a computer chip shortage.

(Below is

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Ford loses $1.28B in 2020, raises electric vehicle spending

The automaker said that excluding one-time items, it made 41 cents per share for the year. That beat Wall Street estimates of breaking even. Revenue for the year was $127.1 billion, down 18% from 2019. Analysts expected $128.2 billion in revenue for the year.

Ford also lost $2.8 billion in the fourth quarter. Excluding one-time items it made 34 cents per share, according to FactSet. That also beat Wall Street expectations of a 7-cent-per-share loss.

Before taxes the company made $1.7 billion for the year, but it was brought down by restructuring costs in Europe, South America and elsewhere. Also contributing were a $610 million government-ordered recall of 2.7 million vehicles with dangerous Takata air bag inflators and a $1.2 billion one-time accounting charge for falling pension-fund values.

The company predicted a return to more normal profits in 2021, forecasting $8 billion to $9 billion in pretax earnings. That includes

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