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Stock impact report

Ford sees $3 billion pretax loss in its EV business this year [Reuters]

Ford Motor Company (F) 
Last ford motor company earnings: 4/28 04:09 pm Check Earnings Report
US:NYSE Investor Relations: shareholder.ford.com
Company Research Source: Reuters
The projected loss was revealed ahead of a mid-morning briefing for investors and analysts on Thursday to discuss details of the automaker's new financial reporting format. Starting with first-quarter results, which will be announced on May 2, Ford will begin reporting by business unit for Model e (electric vehicles), Blue (combustion vehicles) and Pro (commercial vehicles and services). Ford projects Model e's cumulative three-year loss from 2021-2023 at $6 billion, including a pro-forma loss last year of $2.1 billion, but expects the unit to be profitable on a pretax basis before the end of 2026. Chief Financial Officer John Lawler said Ford no longer will break out financial results by region, only by business unit, because “that's how we're running the company now.” He said Ford will provide quarterly and annual sales and market share for the company's top five global markets, but no longer will report by region. Last year, Ford had a pretax loss of $600 million in Chin Show less Read more
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