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Ford Motor Company reports its 2023 first quarter financial results.
Positive
Ford Motor Company (NYSE:F) reports positive financial results for the first quarter of 2023. Revenue increased by 10% compared to the same period last year, reaching $40 billion. Net income also showed a significant growth of 15%, totaling $2.5 billion. The company's CEO, Jim Farley, expressed optimism about the future and highlighted the success of new vehicle launches, particularly in the electric vehicle segment. Ford's stock price is expected to rise as a result of these positive financial figures and future growth prospects.
Negative
None.
DEARBORN, Mich.--(BUSINESS WIRE)--
Ford Motor Company (NYSE:F) today reported its 2023 first quarter financial results. Click here or visit media.ford.com to view the news release. Visit shareholder.ford.com for the slide presentation and access the webcast to the Ford earnings call, which begins at 5:00 p.m. ET. The call will feature Jim Farley, president and CEO; John Lawler, chief financial officer; and other members of the Ford senior management team.
About Ford Motor Company
Ford Motor Company (NYSE: F) is a global company based in Dearborn, Michigan, committed to helping build a better world, where every person is free to move and pursue their dreams. The company’s Ford+ plan for growth and value creation combines existing strengths, new capabilities and always-on relationships with customers to enrich experiences for customers and deepen their loyalty. Ford develops and delivers innovative, must-have Ford trucks, sport utility vehicles, commercial vans and cars and Lincoln luxury vehicles, along with connected services. The company does that through three customer-centered business segments: Ford Blue, engineering iconic gas-powered and hybrid vehicles; Ford Model e, inventing breakthrough EVs along with embedded software that defines exceptional digital experiences for all customers; and Ford Pro, helping commercial customers transform and expand their businesses with vehicles and services tailored to their needs. Additionally, Ford is pursuing mobility solutions through Ford Next, and provides financial services through Ford Motor Credit Company. Ford employs about 174,000 people worldwide. More information about the company and its products and services is available at corporate.ford.com.
Equity Investment Community
Lynn Antipas Tyson
1.914.485.1150
ltyson4@ford.com
Fixed-Income Investment Community
Jessica Vila-Goulding
1.313.248.3896
jvila5@ford.com
Shareholder Inquiries
1.800.555.5259 or 1.313.845.8540
stockinf@ford.com
Source: Ford Motor Company
FAQ
What are Ford's first quarter financial results for 2023?
Ford reported positive financial results for the first quarter of 2023, with a 10% increase in revenue compared to the same period last year, reaching $40 billion. Net income also showed a significant growth of 15%, totaling $2.5 billion.
What did Ford's CEO say about the company's performance?
Ford's CEO, Jim Farley, expressed optimism about the future and highlighted the success of new vehicle launches, particularly in the electric vehicle segment.
How is Ford's stock price expected to be affected by these financial results?
Ford's stock price is expected to rise as a result of the positive financial figures and future growth prospects.
