Ford Motor Co. posted a $2 billion net loss last year, down from 2021's $17.9 billion in profits that had been bolstered by gains on the automaker's investment in electric-vehicle startup Rivian Automotive Inc.
The Dearborn automaker's 2022 earnings were hit by a $7.4 billion mark-to-market net loss in Rivian and a $2.7 billion impairment from its investment in autonomous company Argo AI, which was dissolved into Ford and partner Volkswagen AG. Still, Ford is expected to pay its hourly workers profit-sharing payouts averaging $9,176 compared to $12,750 at rival General Motors Co.
Ford generated $158.1 billion in revenue, up from $136.3 billion in 2021 but missed its guidance of bringing in $11.5 billion in operating profits, instead generating $10.4 billion. In 2021, Ford's adjusted operating profits came in at $10 billion.
