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Ford Motor Co F

Alternate Symbol(s):  F.PR.D

Consumer Cyclical Auto Manufacturers
Ford Motor Company is an automobile company. The Company develops and delivers Ford trucks, sport utility vehicles, commercial vans and cars and Lincoln luxury vehicles, along with connected services. Its Ford Blue segment includes the sale of Ford and Lincoln internal combustion engine (ICE) and hybrid vehicles, service parts, accessories, and digital services for retail customers. Ford Model e segment primarily includes the sale of electric vehicles, service parts, accessories, and digital services. Ford Pro primarily includes the sale of Ford and Lincoln vehicles, service parts, accessories, and services for commercial, government, and rental customers. Ford Next segment primarily includes expenses and investments for emerging business initiatives aimed at creating value for Ford in vehicle-adjacent market segments. Ford Credit segment is comprised of the Ford Credit business on a consolidated basis, which is primarily vehicle-related financing and leasing activities.


NYSE:F - Post by User

Ford Motor Co
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Post by Dibah420on Feb 03, 2023 1:39pm
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Post# 35265368

F CEO

F CEO

Ford’s shares had fallen about 10% as of 9:30 a.m. Friday, following a Thursday earnings call with investors that reporting a 2022 net loss of $2 billion.

Ford (NYSE: F) reported fourth-quarter revenue at $44 billion and full-year 2022 revenue at $158.1 billion. The company had reported a net income of $17.9 billion for 2021.

“Our fourth-quarter and full-year financial performance last year fell short of our potential,” said Jim Farley, president and CEO of Ford, during the call. “While we generated record cash flow, we left about $2 billion in profits on the table due to cost and especially continued supply chain issues. To say I’m frustrated is an understatement, because the year could have been so much more for us at Ford.”

Farley said the loss can be blamed on the company’s transitions to “overhaul our industrial system” and the production and manufacturing processes, while also growing its Model e business.

He said inefficiencies and waste are something Ford is dealing with “urgently,” as the company made “sweeping leadership changes” in the last year and is working to implement leaner operations to eliminate “billions of dollars of waste” from within the company.

“We have deeply entrenched issues in our industrial system that have proven tough to root out,” Farley said. “The strength of our products and revenue has masked this functionality for a long time.”

The stamping plant in Hamburg, which employs 770, will soon have new leadership, but it’s unknown if that decision was part of the company’s “sweeping leadership changes.” The former plant manager, Scott Zelie, is no longer with the company and his replacement has not yet been announced, according to Ford regional manager Alan Scher.

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