bossman351 Posted April 28, 2022 Share Posted April 28, 2022 https://www.autoblog.com/2022/04/27/ford-q1-2022-loss/ Quote Link to comment Share on other sites More sharing options...
jpd80 Posted April 28, 2022 Share Posted April 28, 2022 DETROIT - Ford Motor Co on Wednesday reported a net loss of $3.1 billion for the first quarter of 2022 but maintained its profit forecast for the year, citing strong pricing for its vehicles. Ford attributed the loss primarily to a lower valuation of its stake in Rivian, which produces the R1T pickup with which Ford's new all-electric F-150 Lightning will surely compete. Ford said it still expects $11.5 billion to $12.5 billion in operating earnings, despite the war in Ukraine, supply-chain disruptions, inflation and rising U.S. interest rates that have hit the industry. The company also said it expects strong pricing to remain in effect, improved availability of semiconductors in the second half of the year, and wholesale volume growth of 10% to 15%. Crosstown rival General Motors reported a nearly $3 billion Q1 profit Tuesday. Stellantis' earnings call is scheduled for May 5, 2022. Quote Link to comment Share on other sites More sharing options...
jpd80 Posted April 28, 2022 Share Posted April 28, 2022 https://s23.q4cdn.com/799033206/files/doc_financials/2022/q1/PRESS-RELEASE-Q1-2022.pdf In North America, Ford generated $1.6 billion in EBIT. The company said first-quarter supply disruptions limited the fundamental revenue and earnings power of the regional business. Collectively, the company’s Europe, South America, China and International Markets Group business units – all of which have been restructured and refocused over the past few years – produced EBIT of $300 million. Ford in Europe generated positive EBIT despite supply related lower volumes. The company sustained its seven-year standing as the region’s No. 1 brand of commercial vehicles. The FORDLiive connected-uptime system, introduced in Europe a year ago, collectively provided customers with about 66,000 more days of uptime from their vehicles in the first quarter of 2022 alone – an example of the powerful services value Ford Pro will deliver to enterprises in markets around the world. Ford’s business in South America reflected the benefits of its restructuring into a lower-risk, asset-light business, achieving a third straight quarter of profitability. Introductions of the Maverick and Ranger FX4 pickup trucks are expected to be highly popular with existing and new customers in the region. In China, Ford continues to establish the Lincoln brand with buyers of luxury vehicles and as the company’s long-term profit engine in the strategically important market. The brand’s in- country customer experience and dealer network are being modernized and expanded in preparation for Lincoln’s all-electric future. IMG remained solidly profitable, even with a 33% decrease in first-quarter wholesales that was mostly because of restructuring in India and the effects of semiconductor and other supply constraints on production elsewhere in the business. Customers in IMG countries are anticipating the launch of the next-generation Ranger pickup later this year. Ford Credit delivered another strong quarter, with earnings before taxes of $928 million. During the quarter, same-day approval and pre-arranged financing options for smaller commercial customers were introduced to the unit’s evolving range of services. Quote Link to comment Share on other sites More sharing options...
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