Ford posts full-year net loss, ugly fourth quarter as 'execution issues' plague operations
Publishing timestamp: 2023-02-02 17:57:02
Summary
Ford Motor reported a net loss in the fourth quarter and full year, missing Wall Street's earnings expectations and falling short of its own full-year guidance by $1.1 billion. CEO Jim Farley said they should have done better and the company is looking to cut additional costs this year, including potential layoffs. General Motors outperformed expectations and forecasted stronger-than-expected 2023 results. Ford expects to earn between $9 billion and $11 billion in adjusted earnings before interest and taxes in 2023.
Sentiment: NEGATIVE
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Source: https://www.cnbc.com/2023/02/02/ford-f-earnings-q4-2022.html