Ford CEO Jim Farley removes his mask during the Ford Built for America event at Fords Dearborn Truck Plant on September 17, 2020 in Dearborn, Michigan.
Nic Antaya | Getty Images
DETROIT – Ford engine is set to release its fourth quarter results after the bell on Thursday. Here’s what Wall Street expects, according to consensus estimates from Refinitiv:
- Adjusted earnings per share: 62 cents
- Automotive turnover: $40.37 billion
In October, Ford confirmed its earlier full-year forecast of adjusted earnings before interest and taxes of between $11.5 billion and $12.5 billion. In the first three quarters of the year, it grossed $7.9 billion, led by its North American operations.
If Ford meets or exceeds Wall Street expectations for revenue and earnings, EPS would more than double the 26 cents it had reported for the same period a year earlier. Revenue would be up 14.5% compared to the fourth quarter of 2021.
While investors will be watching fourth-quarter results for signs of weaker consumer demand or earnings dilution, Ford’s 2023 guidance should be more focused.
Wall Street expects Ford’s 2023 adjusted earnings per share outlook to be down nearly 16% from 2022, according to Refinitiv estimates. That’s despite full-year revenue forecast to rise 3.4% year-over-year to more than $151 billion, signaling lower operating profit than in recent years.
Automakers have posted record or near-record results during the coronavirus pandemic amid tight supply of new vehicles and resilient consumer demand. But that scenario is slowly normalizing, leaving new vehicle prices and profits to fluctuate.
Ford slashed the price of its electric Mustang Mach-E on Monday, a harbinger of a booming price for electric vehicles spurred by You’re here.
Earlier Thursday, Ford reported January new-vehicle sales that showed a slight improvement over the same period last year.
There’s pressure on Ford to deliver a strong fourth quarter and relatively strong guidance. Crosstown rival General Motors far exceeded Wall Street expectations on Tuesday. The automaker is also forecasting stronger-than-expected 2023 results, including adjusted earnings before interest and taxes of $10.5 billion to $12.5 billion and adjusted earnings per share of between $6 and $7.
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