Despite a difficult year dealing with the semiconductor issue, Ford Motor Co. reported net income of $17.9 billion for all of 2021 on revenue of $136.3 billion — a marked turnaround from 2020.
The automaker reported its fourth quarter and full-year results, and a strong final quarter brought the year home. Fourth-quarter results include revenue of $37.7 billion, net income of $12.3 billion, adjusted EBIT of $2 billion.
The full-year results were impacted by a Q1 gain from its stake in Rivian. The automaker’s adjusted EBIT came in at $10 billion — the midpoint of $9.6 billion to $10.6 billion guidance range, after reclassifying Q1 Rivian gain.
“Financial performance is obviously critical,” said President and CEO Jim Farley in a statement. “We’re also proud that customers see how Ford is taking EVs mainstream, and have already ordered or reserved more than 275,000 all-electric Mustang Mach-E SUVs, F-150 Lightning pickups and E-Transit commercial vehicles – and we’re breaking constraints to deliver every one of them as fast as we can.”
The company offered its full-year 2022 guidance with its adjusted EBIT to be between $11.5 billion and $12.5 billion — a 15% to 25% improvement compared to 2021.
TheDetroitBureau.com will update this story shortly.
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