Connect with us


Updated EV/HYBRID Gameplan, Ford Q4 Earnings Preview, Key Items To Watch

Avatar of AlishbaW



Updated EV/HYBRID Gameplan, Ford Q4 Earnings Preview, Key Items To Watch

(CTN News) – Following the bell on Tuesday, Ford (F) will report its quarterly and full-year results, highlighting its shift from EV production to hybrid production.

The results follow the announcement by General Motors of strong results and profit guidance, which showed that the US auto sector is performing well.

According to Bloomberg, Ford is expected to report top-line revenue of $40.35 billion for the quarter, a decline of 3.5% from a year ago as the effects of the United Auto Workers (UAW) strike lingered into early Q4. The consensus estimate for profitability is $0.13 adjusted EPS on $988.2 million adjusted EBIT (earnings before interest and taxes).

It was announced last year that was dividing its business into three units – Blue for its traditional gas-powered vehicles,

Ford Model e for its electric vehicles, and Ford Pro for its commercial vehicles and super duty trucks.

  • EBIT for Ford Blue is expected to be $866.5 million on revenue of $24.52 billion

  • Revenue from Model e is expected to reach $1.91 billion, with an EBIT loss of $1.34 billion

  • With $13.86 billion in revenues and $1.43 billion in EBIT, Ford Pro had a revenue of $13.86 billion

Having ratified its labor contract with UAW, Ford has reinstated its profit forecast for 2023. A spokesperson said that the company expects adjusted EBIT to be between $10.0 billion and $10.5 billion for the full year 2023, and that this figure will include $1.7 billion in lost profits as a result of the strike.

Investors will be watching closely as it issues its preliminary profit guidance for 2024, which matches its initial pre-UAW strike outlook for 2023. Until the strike, profit outlook for 2023 was $11 billion to $12 billion.

A significant change has occurred in Model e EV business in the last year as the company’s growth has slowed. John Lawler, Ford’s chief financial officer, stated last quarter that the company would “push out” $12 billion in investments in electric vehicles when needed.

Furthermore, Ford has delayed the construction of its new battery plant in Michigan (which will use technology licensed from China’s CATL), and has decreased the output of its batteries. As of now, the factory is scheduled to open in 2026.


Tesla Gets a $1.5 Million Fine for Hazardous Waste

Alishba Waris is an independent journalist working for CTN News. She brings a wealth of experience and a keen eye for detail to her reporting. With a knack for uncovering the truth, Waris isn't afraid to ask tough questions and hold those in power accountable. Her writing is clear, concise, and cuts through the noise, delivering the facts readers need to stay informed. Waris's dedication to ethical journalism shines through in her hard-hitting yet fair coverage of important issues.

Continue Reading

CTN News App

CTN News App

Recent News


compras monedas fc 24

Volunteering at Soi Dog

Find a Job

Jooble jobs

Free ibomma Movies