Q4 2024 Ford Motor Co Earnings Call Transcript
Key Points
- Ford Motor Co (F) achieved a record global revenue of $185 billion in 2024, marking the fourth consecutive year of top-line growth.
- The F-Series remains America's best-selling pickup and vehicle, contributing significantly to Ford's profitability.
- Ford Pro's revenue increased by 15% to $67 billion, with a strong performance in Super Duty chassis cabs and Transit wagons.
- Pro software subscriptions rose 27%, and telematics software grew 100%, indicating strong growth in recurring revenue streams.
- Ford's balance sheet is robust, with over $28 billion in cash and close to $47 billion in liquidity, providing strategic flexibility.
- Ford Motor Co (F) anticipates a challenging 2025 with adjusted EBIT guidance of $7 billion to $8.5 billion, reflecting potential headwinds from tariffs and policy changes.
- The company expects a breakeven adjusted EBIT in the first quarter of 2025 due to a significant reduction in wholesales and unfavorable mix.
- Ford Model e is projected to incur a loss of $5 billion to $5.5 billion in 2025, with continued industry pricing pressure impacting revenue.
- The EV market faces increased competition and pricing pressure, challenging Ford's profitability in this segment.
- Ford is experiencing pricing pressure in the fleet environment, particularly in daily rentals, which could impact Ford Pro's profitability.
Good day, everyone. My name is Leo, and I will be your conference operator today. At this time, I would like to welcome you to the Ford Motor Company fourth-quarter 2024 earnings conference call. (Operator Instructions).
At this time, I would like to turn the call over to Lynn Antipas Tyson, Executive Director of Investor Relations.
Thank you. Welcome to Ford Motor Company's fourth-quarter '24 earnings call.
With me today are Jim Farley, President and Chief Executive Officer; and Sherry House, our new CFO effective tomorrow, February 6. Joining us for Q&A will be John Lawler, Vice Chair and current CFO; and Cathy O'Callahan, CEO of Ford Credit.
Today's discussions include some non-GAAP references. These are reconciled to the most comparable US GAAP measures in the appendix of our earnings deck, you can find the deck on the rest of our earnings materials and other important content at shareholder.ford.com.
Our discussion also includes forward
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