Ford Motor reported earnings after the bell. Here are the results.
Adjusted EPS: 26 cents vs 45 cents a share expected, per Refinitiv
Automotive revenue: $35.3 billion vs $35.5 billion expected, per Refinitiv
The automaker reported an operating profit of $1.7 billion, or adjusted earnings of 34 cents per share, and revenue of $33.2 billion in the fourth quarter of 2020. On an unadjusted basis, Ford lost $2.79 billion during that time frame.
While Wall Street will be monitoring Ford’s quarterly results, they’re more interested in the automaker’s guidance for this year as well as any progress or setbacks in CEO Jim Farley’s Ford+ turnaround plan.
Analysts estimate Ford this year will earn between $1.54 and $2.35 per share on revenue of $147.5 billion, according to Refinitiv. That compares with expectations of between $1.72 and $2.05 EPS and revenue of $126.3 billion in 2021.
Ford sold 1.9 million vehicles in the U.S. in 2021, down by 6.8% as it managed through a global shortage of semiconductor chips. The parts problem forced Ford and other automakers to sporadically shutter plants and depleted vehicle inventories.
More here: https://www.cnbc.com/2022/02/03/ford-f-earnings-q4-2021.html
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