Ford Motor Co. revenue for the fourth-quarter and all of 2022 reached $44.0 billion and $158.1 billion, respectively. For the same periods, the company had net income of $1.3 billion and a net loss of $2.0 billion, and adjusted EBIT of $2.6 billion and $10.4 billion. The results were below Ford’s expectations, attributable, in part, to execution issues in an environment with supply chain and production instability, resulting in higher costs and lower-than-planned volumes. Operating cash flow for the year was $6.9 billion; full-year adjusted free cash flow was $9.1 billion. The company ended 2022 with a continued strong balance sheet: $32 billion in cash and $48 billion of liquidity.

Ford Motor Co.’s fourth-quarter and full-year 2022 operating results were below its expectations, but the company is optimistic about what’s possible now with three distinct, customer-focused business segments: Ford Blue for iconic gas and hybrid vehicles, Ford Model e for breakthrough connected electric vehicles, and Ford Pro for products and services that help commercial customers transform and grow their organizations.

“I’m excited about 2023, which is pivotal for us,” said President and CEO Jim Farley. “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’s getting even better.

“We should have done much better last year. We left about $2 billion in profits on the table that were within our control, and we’re going to correct that with improved execution and performance.”