Press release
702KB
febbraio 05, 2021 - Ford
Ford Raises Planned Investment in EV, AV Leadership to $29 Billion; Further Advances Turnaround of Global Automotive Business in Q4
Comunicato Stampa disponibile solo in lingua originale.
- Improves results in all regional #auto businesses and #ford Credit; posts $36.0 billion in revenue, GAAP quarterly net loss of $2.8 billion; produces adjusted EBIT of $1.7 billion
- Reports $4.5 billion in company operating cash flow, $1.9 billion in adjusted free cash flow; year-end cash of nearly $31 billion and total liquidity of almost $47 billion both up from Q3
- Begins deliveries of electric #mustangmache and new #f150 – 2021 North American Utility and Truck of the Year, respectively – and Bronco Sport; reveals E-Transit electric van
- Increases commitments to invest in growth: to more than $22 billion in EVs, $7 billion in AVs
- Says company projected $8 billion to $9 billion in adjusted EBIT in 2021 including $900 million noncash gain on Rivian, excluding effect of emerging semiconductor shortage
DEARBORN, Mich., Feb. 4, 2021 – #ford Motor Company ended 2020 strongly, improving its #automotive and credit businesses in the fourth quarter while showing and shipping must-have new vehicles designed to delight customers, expand profitability and sustain free cash flow.
“The transformation of #ford is happening and so is our leadership of the #ev revolution and development of autonomous driving,” said #ford President and CEO Jim Farley. “We’re now allocating a combined $29 billion in capital and tremendous talent to these two areas, and
bringing customers high-volume, connected electric SUVs, commercial vans and pickup trucks.”
Company Key Metrics Summary
Customers in the U.S. in the fourth quarter began taking delivery of the all-electric #mustangmache; the Bronco Sport, ahead of the summer return of the legendary Bronco; and the 2021 #f150 pickup – all expected to be significant contributors to 2021 results.
In fourth-quarter 2020, the company generated $1.9 billion in adjusted free cash flow and ended the year with sequentially higher cash (nearly $31 billion) and total liquidity (almost $47 billion). #ford produced quarterly company adjusted EBIT (earnings before interest and taxes) of $1.7 billion, up from $485 million, and an adjusted EBIT margin of 4.8%. (Unless otherwise noted, all comparisons are year-over-year.) The #automotive EBIT margin was 3.8%. Gains were broad-based and largely resulted from improved pricing and lower structural costs, as well as the overlap with UAW contract-ratification costs in 2019.
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