Ford CFO says transforming company into ‘more resilient business’

CFO John Lawler stated on Q1 earnings call: “We are transforming Ford into a higher-growth, higher-margin, more capital-efficient and more resilient business. We’re progressively shedding behaviors that have weighed down performance and valuation of legacy auto companies for most of the industry’s history. Our strong global product lineup is differentiated, offering customers freedom of powertrain choice and drove first quarter revenue of $43 billion, up 3%. Our revenue has grown in each of the last 3 years and we expect 2024 to be no different…. We did see elasticity with an improved mix of higher trends. In the U.S., retail sales jumped 77% versus the total EV segment, which was up roughly 2.6%. Our total EV market share grew by 3.4 points to 7.5%, and Mach-E was the second best-selling e-SUV, only behind Tesla’s Model Y. The bottom line is that we’re more competitive and doing well in the marketplace.” Comments taken from Q1 earnings conference call.