Ford Reports Earnings Beat, Issues Conservative Guidance
Key Metrics:
* Q4 Revenue: $48.2 billion (up 5% YoY)
* Adjusted EPS: $0.39 (above estimate of $0.32)
* Adjusted EBIT: $2.1 billion
Guidance:
* FY2025 Adjusted EBIT: $7.0 billion - $8.5 billion
* FY2025 Adjusted Free Cash Flow: $3.5 billion - $4.5 billion
* Q1 2025 Adjusted EBIT: "Roughly breakeven"
Ford+ Segment Performance:
* Ford Blue (gasoline): Revenue $27.3 billion, EBIT $1.581 billion
* Ford Model e (electric): Revenue $1.4 billion, EBIT -$1.389 billion
* Ford Pro (commercial): Revenue $16.2 billion, EBIT $1.629 billion
Electric Vehicle Outlook:
* Model e segment posted a full-year EBIT loss of $5.1 billion in 2024.
* Losses expected to remain in 2025 despite higher EV volume.
* Segment faces "top-line pressure" due to rising supply and uneven demand.
Tariffs:
* Ford CFO warned that a 25% tariff on imports "would have a major impact on our industry."
* CEO Jim Farley calls for a "comprehensive" tariff policy that includes all automakers.
Market Reaction:
* Ford shares dropped 4% in pre-market trading.