The electric vehicle (EV) push is eating into Ford’s profit margins as the company seeks to find the right mix between profitable vehicles consumers want today and the next generation of EVs that may be in higher demand as the market’s preferences shift in the future. Ford Model e, the company’s EV division, had a net loss of $4.7 billion last year – with $1.6 billion of that in the last quarter – and Ford's chief financial officer John Lawler explained during the company’s earnings call on Tuesday that, "B ...

Ford (F) reported adjusted earnings of 29 cents per share for fourth-quarter 2023, which beat the Zacks Consensus Estimate of 12 cents but fell from 51 cents recorded in the year-ago quarter. The company’s consolidated fourth-quarter revenues came in at $46 billion, rising 4.5% year over year.Segmental PerformanceThe U.S. legacy automaker reports its automotive results under three business segments — Ford Model e, Ford Blue and Ford Pro. While Ford Blue focuses on the firm’s legacy gas-powered business, For ...

Ford Motor Co. is considering getting rid of the automated parallel parking feature in its vehicles as part of its cost-cutting measures in 2024, saying few customers utilize it anyway. Chief Operating Officer Kumar Galhotra said during a call with analysts Tuesday, saying the automaker plans to make some material and design changes aimed at improving efficiency and saving money.Galhotra said connected vehicle data has helped the company determine whether customers are using certain features, and from asses ...

Ford Motor Co.’s stock rose 3% Wednesday after an upbeat earnings report that also spurred buying of its outstanding bonds and helped spreads tighten over U.S. Treasurys.The car company’s F, +3.98% fourth-quarter revenue topped consensus estimates, it announced a next-generation, smaller EV to rival Tesla Inc.’s TSLA, +0.78% upcoming “Model 2,’ and it unveiled a special dividend along with plans for $2 billion in cost cuts this year.The year 2023 was “solid,” but Ford is nowhere near done, Chief Executive J ...

Tesla (NASDAQ:TSLA) investors have had a miserable year. The stock is already down more than 20% in 2024. And it could get worse for Elon Musk before it gets better.That’s because two of the electric vehicle maker’s biggest traditional automotive rivals… Ford (NYSE:F) and Toyota Motor (NYSE:TM) just both reported phenomenal results, in large part due to the success of their hybrid offerings.Ford, Toyota Head Up on Hybrids Shares of Toyota briefly touched new all-time highs Tuesday after the Japanese auto gi ...

Ford Motor Co.’s stock shot higher Wednesday after a quarterly earnings beat, with analysts focusing on an unsung side of the business and an above-expectations 2024 guidance, but remaining cautiously optimistic about the carmaker. Ford Pro, Ford’s F, +3.50% unit dealing with fleets and commercial customers, “continues to be the hidden gem within Ford,” UBS analyst Joseph Spak said in a note Wednesday, echoing similar sentiment from several others.Ford late Tuesday guided for earnings before interest and ta ...

Major stock indexes were moving higher in pre-market trading as investors continued to digest a slew of earnings reports and await more comments from Federal Reserve officials that could provide clues on when the central bank will cut interest rates.Shares of Ford (F) moved higher in pre-market trading after the automaker beat earnings expectations and issued a strong outlook for 2024, while Snapchat parent Snap (SNAP) plunged after a disappointing quarterly report. Disney (DIS) reports after the closing be ...

Ford will spend more on mass-market EVs, its CEO said Tuesday."The ultimate competition is going to be the affordable Tesla," Jim Farley told analysts.Elon Musk's company plans to launch its own cheaper EV, dubbed the "Model 2." NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email address By clicking “Sign Up” ...

公司业绩 - 福特汽车公司在盈利和收入方面超过华尔街预期，股价在盘后交易中上涨6%[1] - 尽管第四季度亏损5.26亿美元，但福特的调整后每股收益为29美分，超出预期，收入达到460亿美元[4] 新产品计划 - 公司计划推出一款新的更小型的电动汽车，以与特斯拉的Model 2竞争[1] 成本削减和特别股息 - 福特强调了今年的20亿美元成本削减策略，并宣布了特别股息[2] CEO表态 - CEO吉姆·法利强调了福特在利润和收入增长方面的强劲定位，同时指出公司正在转向更小型的电动汽车和成本效率，以与特斯拉和中国制造商竞争[3]

财务数据和关键指标变化 - 2023年全年收入176亿美元,同比增长11%,连续第二年实现两位数增长 [2] - 2023年调整后EBIT为104亿美元,达到指引上限 [2] - 2023年自由现金流68亿美元,自由现金流转换率为65%,超过目标区间上限 [2] - 2023年第四季度收入为460亿美元,同比增长4% [13] - 2023年第四季度调整后EBIT为11亿美元,EBIT利润率为2.3% [13] 各条业务线数据和关键指标变化 Ford Pro - 2023年全年收入增长19%,EBIT增长100%达到72亿美元,利润率达到12.4% [13] - 2023年第四季度收入增长11%,EBIT增长25%达到18亿美元,利润率为11.8% [13] - 公司认为Ford Pro是一个高利润、高增长的业务,未来有很大潜力 [3][4][5] Ford Model E - 2023年全年销量增长20%,收入增长12%,EBIT亏损47亿美元 [13] - 2023年第四季度销量增长14%,收入增长2%,EBIT亏损16亿美元 [13] - 公司表示正在调整产品计划和资本投入,以提高Model E业务的盈利能力 [26][27][28] Ford Blue - 2023年全年收入增长8%,EBIT为75亿美元,利润率为7.3% [13] - 2023年第四季度收入持平,EBIT为8.13亿美元,利润率为3.1% [13] - 公司表示正在采取措施提高Blue业务的成本竞争力 [31][32][33] 各个市场数据和关键指标变化 - 公司表示在北美市场,Ford Pro业务表现强劲,特别是政府和基础设施等领域 [4][5] - 在欧洲,Ford Pro连续9年蝉联商用车销量冠军,新产品即将推出 [5][6] - 公司表示正在调整EV业务在不同地区的投资重点,聚焦于有优势的细分市场 [8] 公司战略和发展方向及行业竞争 Ford Pro - 公司认为Ford Pro是一个高利润、高增长的业务,未来有很大潜力 [3][4][5] - 公司表示正在加大在软件、服务和维修网络等方面的投入,以提高Ford Pro的竞争力 [5][6][7] EV业务 - 公司表示EV市场发生了剧烈变化,价格战和产能过剩导致行业面临洗牌 [7][8][9] - 公司正在调整EV业务的资本投入,聚焦于成本效率更高的小型车型 [8][9][10] - 公司表示未来EV业务要实现盈利,需要在成本和定价方面做出调整 [26][27][28] 质量管理 - 公司表示已经连续3年在解决质量问题,并取得了一些进展,尤其是在新车型的发布质量上 [6][7] - 公司将质量指标纳入管理层的短期和长期激励,以提高重视程度 [7] 人才管理 - 公司表示正在进行绩效管理体系的改革,更好地激励和留住优秀人才 [11][12] 管理层对经营环境和未来前景的评论 - 管理层认为2023年是公司的重要转折年,为未来奠定了基础 [2] - 管理层对公司未来的盈利能力和增长潜力表示乐观,认为还没有发挥全部潜力 [2][3] - 管理层对行业EV市场的变化保持警惕,正在调整业务策略应对 [7][8][9] - 管理层认为公司的"动力选择"战略将帮助公司度过行业转型期 [11] 问答环节重要的提问和回答 问题1 **Adam Jonas提问** 提问了Ford Pro业务的估值问题,认为市场可能低估了其价值 [17][18] **Jim Farley回答** 解释了Ford Pro业务的竞争优势和增长潜力,包括市场份额领先、软件和服务收入增长等 [18][19][20][21] 问题2 **John Murphy提问** 询问了EV市场需求放缓的原因,以及公司是否有能力用ICE和混动车型来弥补EV销量下降 [22][23] **Jim Farley和Marin Gaja回答** 解释了消费者对EV和混动车型的不同偏好,以及公司在产品组合和产能调整方面的应对措施 [23][24][25] 问题3 **Rod Lash提问** 询问了Model E业务何时能够实现盈利,以及公司是否有信心实现此目标 [25][26] **John Lawler和Maren Harris回答** 表示公司正在采取措施提高Model E业务的盈利能力,但暂时无法给出具体时间点,将根据市场变化持续调整 [26][27][28][29]