Ford

4Q21, CNBC:

DETROIT — Ford Motor’s shares slid after it reported fourth-quarter earnings Thursday that significantly missed Wall Street’s earnings expectations and slightly missed on revenue. 

The company’s shares tumbled by more than 6% in after-hours trading. 

Here’s how Ford performed, compared with analysts’ estimates::

• adjusted EPS: 26 cents vs 45 cents a share expected
• automotive revenue: $35.3 billion vs $35.5 billion expected

While the automaker hit its annual earnings guidance for 2021, it missed production targets analysts were expecting due to supply chain problems, including an ongoing shortage of semiconductor chips, Ford CFO John Lawler told media during a call Thursday.

For the fourth quarter, Ford’s North American operations, as they have been, contributed the most to the automaker’s earnings, up by 68% to $1.8 billion compared to a year earlier. International losses included $150 million in China, down 130%, and $159 million, a 139% decline, in Europe.

For 2022, Ford estimates it will earn between $11.5 billion and $12.5 billion in adjusted pretax profits, up 15% to 25% over 2021, and generate between $5.5 billion to $6.5 billion in adjusted free cash flow.

“We’re bullish on 2022,” Lawler said, “even with persistent supply chain uncertainties that again illustrates the growing strength of our underlying business.”