Ford Lost A Staggering $2 Billion In 2022

“I’m excited about 2023, which is pivotal for us. We’ve got clarity and ambition with the Ford+ plan, a strong team carrying it out, and a lineup of great products and customer experiences [that are] getting even better,” said Farley.

According to CFO John Lawler, the Blue Oval plans to invest in the Ford+ growth plan and simultaneously return capital to shareholders. The automaker also plans to target distributions of 40% – 50% of free cash flow.

Ford has also declared a first-quarter regular dividend of 15 cents per share and a supplemental dividend of 65 cents per share.

So what is behind these underwhelming financial results? As per Automotive News, Farley admitted that Ford has “deeply entrenched issues” that are difficult to deal with. “The strength of our products and revenue has masked this dysfunctionality for a long time.”