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Dec 31, 2023
Ford Q4 2023 Earnings Report
Ford's Q4 2023 results reflected a revenue increase and a net loss due to special items, with the Ford+ strategy demonstrating adaptability.
Key Takeaways
Ford's Q4 2023 saw revenue increase by 4% to $46 billion. However, a net loss of $526 million was recorded, attributed to a $1.7 billion pretax, non-cash accounting loss. Adjusted EBIT totaled $1.1 billion. The company declared first-quarter regular and supplemental dividends.
Q4 revenue increased by 4% to $46 billion, driven by favorable net pricing.
Net loss of $526 million was primarily due to a $1.7 billion pretax, non-cash accounting loss.
Adjusted EBIT for Q4 totaled $1.1 billion.
The company declared first-quarter dividends of 15 and 18 cents per share.
Forward Guidance
Ford anticipates full-year 2024 adjusted EBIT of $10 billion to $12 billion and adjusted free cash flow of $6 billion to $7 billion, with capital expenditures of $8 billion to $9.5 billion.
Positive Outlook
- Anticipates full-year adjusted EBIT of $10 billion to $12 billion.
- Expects to generate $6 billion to $7 billion in adjusted free cash flow.
- Beneficial pricing and mix from 12 months of sales of the all-new Super Duty.
- Identified $2 billion in cost reductions.
- Presumes flat to modestly higher full-year U.S. industry volume.
Challenges Ahead
- Guidance presumes overall lower vehicle pricing.
- Total costs are expected to be flat year-over-year.
- Higher expenses for labor
- Major product- refresh actions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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