Ford (F) launched its fourth quarter and full-year 2022 outcomes after market shut right this moment, beating on income however lacking earnings in a disappointing exhibiting.
Ford EV gross sales and earnings expectations in 2022
Earlier right this moment, we posted a rundown of what you’ll be able to count on from Ford’s upcoming This fall earnings outcomes.
After ramping up electrical automobile manufacturing all year long, Ford bought a document 61,575 models in 2022, up 126% year-over-year (YOY), making it the second largest EV maker in the US behind Tesla.
The Ford F-150 Lightning is the best-selling EV truck since its launch in Could, promoting 15,617 models up to now (by December 2022).
Ford can be dominating the electrical van market with its E-Transit, claiming 73% of the phase promoting 6,500 EV vans in 2022. The Mach-E SUV continues constructing momentum, with gross sales climbing 45.4% in 2022 to 39,458, making it one of many top-selling EVs of the 12 months.
As for earnings, Wall Avenue expects Ford to report $0.62 EPS on $40.73 billion in income. Estimize is projecting barely greater at $0.63 EPS and income of $41.49 billion.
Gross margins might be one other key determine to observe. In This fall 2021, Ford’s gross margins had been 10.99%. Earlier this week, Ford slashed costs on its well-liked Mustang Mach-E because the EV competitors heats up.
Ford This fall 2022 monetary outcomes
After market shut, Ford launched its This fall and full-year earnings outcomes for 2022, barely beating income expectations however lacking EPS.
Ford reported $41.8 billion in income in comparison with Wall St. expectations of $40.73 billion. EPS fell to $0.51 in comparison with estimates of $0.62. Regardless of the disappointing outcomes, Ford’s CEO Jim Farley believes 2023 might be a “pivotal 12 months” because it rolls out its Ford+ plan.
Farley added that the corporate left about $2 billion in earnings on the desk, which ought to have been within the firm’s management.
Altogether Ford posted a full-year internet lack of $2 billion in 2022 as greater enter prices and lower-than-planned volumes lower into margins. Ford ended the 12 months with $32 billion in money and $48 billion in liquidity.
The automaker is now organized and can report earnings in three enterprise segments, together with its EV unit, Ford Mannequin e, to provide a complete overview of the corporate’s efficiency.
Ford inventory is trending down (-6%) after hours on the outcomes after climbing 22% in 2023 up to now.
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