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Friday, February 3, 2023

Ford -- February 3, 2023

Link here.

The push to transform Ford is taking on greater urgency after the automaker reported 2022 adjusted earnings of $10.4 billion, just three months after the company told analysts it expected to make $11.5 billion to $12.5 billion in that year

How did Ford fall more than a billion dollars shy of hitting a profit target it gave Wall Street at the end of October?  

Blame it on poor execution and higher-than-expected costs. Last quarter, Ford said, overcoming supply chain challenges, including a shortage of semiconductor chips, increased costs by $1 billion more than planned. Ford production was 100,000 vehicles shy of what the automaker expected to build.

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