Ford+ Maximized Value for Customers, Improved Business Resilience, Efficiency, Growth, Margins

• Capital markets event yesterday featured updates from company leaders on Ford’s ambitious strategy, including KPIs and financial targets for three global business segments
• Reports included financial bridges to a company adjusted EBIT margin of 10% in 2026, and to similarly timed EBIT margin targets for Ford Blue, Ford Model e and Ford Pro
• Company announced new battery raw-material definitive agreements, strengthening Ford’s sourcing to produce two million EVs by the end of 2026 – and beyond
• For full-year 2023, company maintains guidance of $9 billion to $11 billion in adjusted EBIT and about $6 billion in adjusted free cash flow

 Less than two quarters into full deployment, the teams behind the Ford+ growth plan’s new customer-centered business segments are redefining customer value, while at the same time reducing cyclicality, improving capital efficiency, and generating profitable growth and strong free cash flow.

That was the essential message of CEO Jim Farley, CFO John Lawler and other Ford leaders to hundreds of investors, analysts and others that attended the company’s capital markets event that took place yesterday in-person and virtually.

“The days of being all things to all people are over at Ford,” Farley said. “We’re developing and delivering connected, digital products that give customers tailored ownership experiences – opening up diverse revenue pools and unprecedented growth for us instead of jockeying for slivers of share with complex hardware in over-served vehicle categories.”

Farley said that Ford is “competing differently” and placing “big bets” through each of its three, customer-centered business segments:

Ford has fresh, in-demand products and ambitious objectives for profitable growth for each of the businesses, which are making decisions – including about how to allocate capital – based on the specific needs of their different customers.

“We want to give customers services and experiences they can’t live without – including things we haven’t yet imagined,” said Farley.

Farley and Lawler were joined by Kumar Galhotra of Ford Blue; Doug Field and Lisa Drake of Ford Model e; and Ted Cannis of Ford Pro. Collectively, they described how the company is raising its standing with millions of longtime customers around the globe – and creating appeal with millions of new ones who are often younger, more diverse and haven’t previously considered Ford.