: ‘Refounded’ Ford announces changes in financial reporting, reiterates margin targets
Ford Motor Co. F will now report its results by three new global business segments rather than by geographic regions, the company announced Thursday. The results will be reported by Ford Blue, encompassing gas and hybrid vehicles, Ford Model e, or electric vehicles, and Ford Pro, which is commercial products and services. Ford’s stock, which ended Wednesday’s session down 2.1%, rose 1.2% premarket. “We’ve essentially ‘refounded’ Ford, with business segments that provide new degrees of strategic clarity, insight and accountability to the Ford+ plan for growth and value,” said Ford CFO John Lawler, in a statement. “It’s not only about changing how we report financial results; we’re transforming how we think, make decisions and run the company, and allocate capital for highest returns.” Ford also reconfirmed its late-2026 margin targets of 10% for company adjusted EBIT and 8% for Ford Model e, with the latter “driven by ambitious scaling of EV production run rates,” according to the company. Additionally, the company reaffirmed its full-year 2023 adjusted EBIT guidance of $9 billion to $11 billion.
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