Ford Reports Mixed Q4 Results, Provides Muted Guidance

Financial Performance:

* Revenue: $48.2 billion, beating estimates of $43.01 billion
* Adjusted EPS: $0.39, exceeding expectations of $0.32
* Adjusted EBIT: $2.1 billion

Full-Year Outlook:

* Adjusted EBIT: $7.0 billion to $8.5 billion
* Adjusted free cash flow: $3.5 billion to $4.5 billion

Guidance Presumptions:

* Headwinds from market factors such as pricing
* Does not include policy changes like the potential loss of EV tax credits or tariffs

Business Segments:

* Ford Blue: Revenue of $27.3 billion, EBIT of $1.581 billion
* Ford Model e: Revenue of $1.4 billion, EBIT loss of $1.389 billion
* Ford Pro: Revenue of $16.2 billion, EBIT of $1.629 billion

Key Metrics:

* Q4 US sales increased 8.8% YoY, driven by F-Series growth
* Annual US sales rose 4.2% to 2.079 million vehicles
* Electrified vehicle sales jumped 38% to 285,291 units

EV Outlook:

* Ford Model e segment posted a full-year EBIT loss of $5.1 billion
* Losses expected to persist in 2025 despite higher EV volume
* Faces top-line pressure due to rising supply and uneven demand

Tariffs and Policy:

* CEO Jim Farley expressed concerns over potential 25% tariffs on imports
* Called for a comprehensive tariff policy that applies to all automakers
* Hyundai-Kia and Toyota are not currently subject to incremental tariffs