Ford Motor Co (NYSE:F) is trading lower Friday morning after the company announced worse-than-expected fourth-quarter earnings results.
Ford reported an automative revenue of $35.26 billion, which slightly fell short of analyst consensus of $35.52 billion. The company reported adjusted earnings of 26 cents per share, which came in below the estimate of 45 cents per share.
"Strong customer appeal of Ford's new vehicles is driving optimism about 2022," Ford said.
Ford expects full-year 2022 adjusted EBIT to be between $11.5 billion and $12.5 billion. The company expects adjusted free cash flow to be between $5.5 billion and $6.5 billion.
"Financial performance is obviously critical," said Jim Farley, president and CEO of Ford. "We’re also proud that customers see how Ford is taking EVs mainstream, and have already ordered or reserved more than 275,000 all-electric Mustang Mach-E SUVs, F-150 Lightning pickups and E-Transit commercial vehicles – and we’re breaking constraints to deliver every one of them as fast as we can."
Ford said it plans to announce its first-quarter 2022 financial results on April 27.
F Price Action: Ford has traded as low as $10.84 and as high as $25.87 over a 52-week period.
The stock was down 6.49% at $18.59 at time of publication.
Photo: courtesy of Ford.
