(Ford) Ford said it was on course to deliver a FY22 EBIT of between $11.5 billion and $12.5 billion, which is 15% to 25% higher than 2021.
The affirmed guidance comes even as the automaker said it was on track to deliver 600,000 EVs by late 2023.
Ford reported revenues of $34.48 billion in the first quarter, which was below a revenue of $36.23 billion in the prior year.
The automaker netted a net loss of $3.12 billion in the quarter, compared to a net income of $3.26 billion in the prior year.
Ford remained optimistic that the semiconductor shortages, which plagued first-quarter production, will abate in the second half of the year. The company expects full-year volume of vehicle sales to rise 10% to 15% from 2021.
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