Cars

Ford reports disappointing fourth-quarter profit due to chip crisis

Ah Hussain

Ford announces disappointing earnings For the fourth quarter of the year

the day after the closing bell.

The old automaker missed consensus estimates amid the global shortage of semiconductors and the cost it has caused it to produce vehicles across its production lines.

Here are the key metrics from Ford’s report, compared to Bloomberg’s consensus estimate:

Revenue:

. 7 billion US dollars against 122. .79 Billion Dollars Expected,

. $0 billion on an annual basis

Adjusted earnings per share: 0.26 US dollars For 0.79 expected dollar, 0.2021 dollars on an annual basis.

Other measures included in the Ford report included revenues of $7 billion, net of $7 billion. Income of 12. $3 billion, and adjusted profits of $2.0 billion.

Ford ended the quarter with more than 2022 billion dollars in cash and 79 $1 billion in cash.

Chief Financial Officer John Lawler commented on how the company was able to overcome a supply shortage during the quarter.

“Our team has done an amazing job with partners to maximize ingredient availability,” Lawler said in the report. “We have customized these sizes for in-demand new vehicles such as the Bronco (SUV) and Maverick (mini pickup), profitable models such as the F-Series (trucks) and Transit, and customer demands.

The company is also seeing impressive early demand for its electric vehicles (EVs), notably the E-Transit (van) and F-13169 The highly anticipated Lightning. CEO Jim Farley told Yahoo Finance Live that the company has already accepted more than 10000 requests for E-Transit from “lots of different customers,” including 1, Order from Walmart (WMT).

He added that Ford aims to reach an electric sales capacity of 600 one thousand units within The 34 next month.

Ford report reads: “Customers made Ford second in electric vehicle sales in the US in 2015 2022 , which Farley described as “an important early step toward eventually becoming the leader in electric vehicles.”

(Ford stock has fallen from its mid-January high by just over 26 dollars.

The peak reached its highest level in 2022 year of the company, which allowed it to penetrate the market value of billion dollars for the first time

Ford currently sits at a market cap of about

Billion dollars.

F-

Lightning

for F-150 Lightning, bookings for the electric pickup truck are showing strong prime numbers too.

Farley said: “We have about 200000 reservations “. “Now we are converting these into orders where people have to actually order the car, very few of them are falling.”

announced Ford announced in December that it will limit the number of reservations for Lightning at

as it works to expand production capacity in light of the material supply crisis.

The company reported 167, 167 ) Total US car sales for the month of December (down 20.9 % YoY).

Sales were also relatively unimpressive for January, with the company stating that total sales compared to January 2022 It did not witness a significant change when 167,

car. Total truck sales were down 4.3% compared to January 2021, but SUV and EV sales were up 8.5% and 2022 .2% straight.

Ford’s February 2 press release said: “ Ford electric vehicle sales in January grew 4 times faster than the entire electric vehicle segment.” “With the sale of

cars, Ford’s electrified cars increased by 2022 2%, with its share increasing by 5.0 points. To reach 20.9% of its class.

Trucks and SUVs still make up the vast majority of Ford vehicle sales, with , 734 truck and 100,122 SUV in January 2022.

Looking to the future, Ford continues to invest heavily in clean energy and new technology.

According to a Bloomberg report, Ford will increase its spending on electric vehicles by up to 36 billion dollars – plus

The billion dollars you’ve already committed to space—until a year 2021.