Ford Motor reported an ugly fourth quarter, missing Wall Street’s earnings expectations and falling short of its own full-year guidance by $1.1 billion, as the company reported “execution issues” that plagued operations.
Ford’s fourth-quarter net income was $1.3 billion, $11 billion lower than the same period a year earlier. For the full year, Ford lost $2 billion, nearly $20 billion off its 2021 profit.
“We should have done much better last year,” CEO Jim Farley said in an earnings release. “We left about $2 billion in profits on the table that were within our control, and we’re going to correct that with improved execution and performance.”
Abby Andrews