NYSE$F
Ford Motor Co · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Ford's Q4 2023 results reflected a revenue increase and a net loss due to special items, with the Ford+ strategy demonstrating adaptability.
Ford's Q4 2023 saw revenue increase by 4% to $46 billion. However, a net loss of $526 million was recorded, attributed to a $1.7 billion pretax, non-cash accounting loss. Adjusted EBIT totaled $1.1 billion. The company declared first-quarter regular and supplemental dividends.
- Q4 revenue increased by 4% to $46 billion, driven by favorable net pricing.
- Net loss of $526 million was primarily due to a $1.7 billion pretax, non-cash accounting loss.
- Adjusted EBIT for Q4 totaled $1.1 billion.
- The company declared first-quarter dividends of 15 and 18 cents per share.
Headline financials
Revenue & EPS history
Ford · Revenue · Quarterly
$46B
Revenue by segment
Ford · $48B total across 4 segments · Q3 2023
- Ford Blue$28.7B—59.7%
- Ford Pro$13.8B+16.0%28.7%
- Ford Model e$2.92B—6.1%
- Ford Credit$2.63B—5.5%
Forward guidance
Ford anticipates full-year 2024 adjusted EBIT of $10 billion to $12 billion and adjusted free cash flow of $6 billion to $7 billion, with capital expenditures of $8 billion to $9.5 billion.
Tailwinds
- Anticipates full-year adjusted EBIT of $10 billion to $12 billion.
- Expects to generate $6 billion to $7 billion in adjusted free cash flow.
- Beneficial pricing and mix from 12 months of sales of the all-new Super Duty.
- Identified $2 billion in cost reductions.
- Presumes flat to modestly higher full-year U.S. industry volume.
Headwinds
- Guidance presumes overall lower vehicle pricing.
- Total costs are expected to be flat year-over-year.
- Higher expenses for labor
- Major product- refresh actions.
- EBIT loss of $5.0 billion to $5.5 billion for Ford Model e.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
-0.9%
Avg return
Earnings day
-1.6%
Avg return
5 days after
-0.1%
Avg return
30 days after
42%
31 / 73 earnings
Positive
+11.6%
Q2 2022
Best reaction
-19.3%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.0% | -4.5% | +42.7% | |
| Q4 2025 | +2.1% | +4.1% | -14.0% | |
| Q3 2025 | +7.5% | +7.3% | +4.0% | |
| Q2 2025 | +1.8% | +1.7% | +8.3% | |
| Q1 2025 | +2.7% | +2.6% | -0.7% | |
| Q4 2024 | -7.5% | -8.0% | -1.1% | |
| Q3 2024 | -6.0% | -7.7% | +0.3% | |
| Q2 2024 | -19.3% | -20.4% | -18.5% | |
| Q1 2024 | +0.8% | -1.5% | -6.0% | |
| Q4 2023 | +10.4% | +9.4% | +7.1% | |
| Q3 2023 | -13.7% | -15.5% | -9.9% | |
| Q2 2023 | -3.0% | -1.8% | -12.9% | |
| Q1 2023 | -2.2% | -0.6% | +0.4% | |
| Q4 2022 | -4.1% | -2.5% | -5.1% | |
| Q3 2022 | +1.3% | +4.2% | +9.7% | |
| Q2 2022 | +11.6% | +22.3% | +22.9% | |
| Q1 2022 | -0.6% | -3.0% | -7.3% | |
| Q4 2021 | -12.9% | -14.1% | -18.3% | |
| Q3 2021 | +5.8% | +12.6% | +23.9% | |
| Q2 2021 | +4.4% | +0.9% | -3.5% | |
| Q1 2021 | -9.8% | -6.9% | +16.3% | |
| Q4 2020 | +2.8% | +6.5% | +9.6% | |
| Q3 2020 | -0.3% | -2.7% | +14.8% | |
| Q2 2020 | -4.5% | -0.9% | +0.3% | |
| Q1 2020 | +1.7% | -4.8% | +13.2% | |
| Q4 2019 | -7.5% | -9.7% | -24.9% | |
| Q3 2019 | -5.2% | -5.1% | -2.0% | |
| Q2 2019 | -6.0% | -5.6% | -13.8% | |
| Q1 2019 | +8.8% | +9.2% | +2.7% | |
| Q4 2018 | +1.2% | -2.9% | -3.4% | |
| Q3 2018 | +4.7% | +8.0% | +6.3% | |
| Q2 2018 | -6.4% | -4.7% | -8.4% | |
| Q1 2018 | +4.3% | +2.6% | +5.0% | |
| Q4 2017 | -3.3% | -9.3% | -18.7% | |
| Q3 2017 | +0.2% | +1.9% | +0.5% | |
| Q2 2017 | -0.8% | -0.4% | -4.0% | |
| Q1 2017 | -1.1% | -5.9% | -5.8% | |
| Q4 2016 | -2.3% | -3.4% | -2.5% | |
| Q3 2016 | -1.3% | -2.3% | +1.3% | |
| Q2 2016 | -8.5% | -13.7% | -10.5% | |
| Q1 2016 | -0.7% | — | — | |
| Q4 2015 | +0.8% | — | — | |
| Q3 2015 | -4.5% | — | — | |
| Q2 2015 | +4.5% | — | — | |
| Q1 2015 | +0.8% | — | — | |
| Q4 2014 | +1.7% | — | — | |
| Q3 2014 | -4.0% | — | — | |
| Q2 2014 | -0.9% | — | — | |
| Q1 2014 | -2.1% | — | — | |
| Q4 2013 | -2.9% | — | — | |
| Q3 2013 | +0.5% | — | — | |
| Q2 2013 | +0.1% | — | — | |
| Q1 2013 | +0.8% | — | — | |
| Q4 2012 | -6.2% | — | — | |
| Q3 2012 | +7.7% | — | — | |
| Q2 2012 | -1.1% | — | — | |
| Q1 2012 | -2.4% | — | — | |
| Q4 2011 | -3.7% | — | — | |
| Q2 2011 | -3.7% | — | — | |
| Q3 2011 | -0.9% | — | — | |
| Q1 2011 | +2.0% | — | — | |
| Q4 2007 | -2.7% | — | — | |
| Q4 2010 | -2.7% | — | — | |
| Q3 2010 | -0.9% | — | — | |
| Q2 2010 | +0.5% | — | — | |
| Q1 2009 | +3.1% | — | — | |
| Q1 2010 | -4.9% | — | — | |
| Q4 2009 | +0.1% | — | — | |
| Q3 2008 | +9.8% | — | — | |
| Q3 2009 | +9.8% | — | — | |
| Q2 2009 | -2.8% | — | — | |
| Q4 2008 | -2.8% | — | — | |
| Q2 2008 | -2.8% | — | — |
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