Ford (F) reported adjusted earnings of 29 cents per share for fourth-quarter 2023, which beat the Zacks Consensus Estimate of 12 cents but fell from 51 cents recorded in the year-ago quarter. The company’s consolidated fourth-quarter revenues came in at $46 billion, rising 4.5% year over year.Segmental PerformanceThe U.S. legacy automaker reports its automotive results under three business segments — Ford Model e, Ford Blue and Ford Pro. While Ford Blue focuses on the firm’s legacy gas-powered business, For ...

Ford Motor Co. is considering getting rid of the automated parallel parking feature in its vehicles as part of its cost-cutting measures in 2024, saying few customers utilize it anyway. Chief Operating Officer Kumar Galhotra said during a call with analysts Tuesday, saying the automaker plans to make some material and design changes aimed at improving efficiency and saving money.Galhotra said connected vehicle data has helped the company determine whether customers are using certain features, and from asses ...

Ford Motor Co.’s stock rose 3% Wednesday after an upbeat earnings report that also spurred buying of its outstanding bonds and helped spreads tighten over U.S. Treasurys.The car company’s F, +3.98% fourth-quarter revenue topped consensus estimates, it announced a next-generation, smaller EV to rival Tesla Inc.’s TSLA, +0.78% upcoming “Model 2,’ and it unveiled a special dividend along with plans for $2 billion in cost cuts this year.The year 2023 was “solid,” but Ford is nowhere near done, Chief Executive J ...

Tesla (NASDAQ:TSLA) investors have had a miserable year. The stock is already down more than 20% in 2024. And it could get worse for Elon Musk before it gets better.That’s because two of the electric vehicle maker’s biggest traditional automotive rivals… Ford (NYSE:F) and Toyota Motor (NYSE:TM) just both reported phenomenal results, in large part due to the success of their hybrid offerings.Ford, Toyota Head Up on Hybrids Shares of Toyota briefly touched new all-time highs Tuesday after the Japanese auto gi ...

Ford Motor Co.’s stock shot higher Wednesday after a quarterly earnings beat, with analysts focusing on an unsung side of the business and an above-expectations 2024 guidance, but remaining cautiously optimistic about the carmaker. Ford Pro, Ford’s F, +3.50% unit dealing with fleets and commercial customers, “continues to be the hidden gem within Ford,” UBS analyst Joseph Spak said in a note Wednesday, echoing similar sentiment from several others.Ford late Tuesday guided for earnings before interest and ta ...

Major stock indexes were moving higher in pre-market trading as investors continued to digest a slew of earnings reports and await more comments from Federal Reserve officials that could provide clues on when the central bank will cut interest rates.Shares of Ford (F) moved higher in pre-market trading after the automaker beat earnings expectations and issued a strong outlook for 2024, while Snapchat parent Snap (SNAP) plunged after a disappointing quarterly report. Disney (DIS) reports after the closing be ...

Ford will spend more on mass-market EVs, its CEO said Tuesday."The ultimate competition is going to be the affordable Tesla," Jim Farley told analysts.Elon Musk's company plans to launch its own cheaper EV, dubbed the "Model 2." NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email address By clicking “Sign Up” ...

Ford Motor Company (NYSE:F) shares rose 6% in after-hours trading as the automaker surpassed Wall Street forecasts with its quarterly revenue and announced plans for a new, smaller EV to compete with Tesla's Model 2.  In its quarterlies, Ford highlighted its $2 billion cost reduction strategy for the year and declared a special dividend. CEO Jim Farley underscored Ford's strong positioning for growth in profit, and revenue, while flagging a strategic shift towards smaller EVs and cost efficiency to compete ...

Ford Motor Company (NYSE:F) Q4 2023 Earnings Conference Call February 6, 2024 5:00 PM ET Company Participants Lynn Antipas Tyson - Head of Investor Relations Jim Farley - President and Chief Executive Officer John Lawler - Chief Financial Officer Marin Gjaja - Chief Operating Officer, Model e Kumar Galhotra - Chief Operating Officer Conference Call Participants Adam Jonas - Morgan Stanley John Murphy - Bank of America Rod Lache - Wolfe Research Dan Levy - Barclays Emmanuel Rosner - Deutsche Bank James Picar ...

Key TakeawaysFord reported adjusted earnings per share of 29 cents, more than double analysts’ expectations, and projected 2024 earnings at the higher end of forecasts.Ford also announced a special 18 cents per share dividend to be paid in the first quarter.Losses in the company's electric vehicle business continued to mount, and are expected to widen further in 2024.Ford shares rose more than 6% in after-hours trading.Ford (F) shares rose more than 6% in after-hours trading Tuesday after the company report ...