Ford reports $44B revenue in Q4, misses estimates
Ford Motor Company announced on Thursday that its revenue stood at $44 billion in the fourth fiscal quarter of 2022, soaring 17% from the corresponding timespan the year prior.
Diluted earnings per share came in at $0.32, in contrast to the recorded earnings per share of $3.03 in the final quarter last year. Net income came in at $1.3 billion compared to the previously registered net income of $12.3 billion in the fourth quarter the year before.
Revenue for the entire 2022 fiscal year was $158.1 billion, up 16% over the previous year. However, the net loss was $2 billion as opposed to the net profit of $17.9 billion in 2021. In contrast to the $4.45 in reported earnings per share the year prior, the diluted loss per share in 2022 was $0.49.
The automaker posted worse-than-expected results for both the final quarter and the full year, pushing the stock to drop 6.22% following the earnings' release.