Ford Motor Co F shares are trading lower Thursday. The company provided a remeasurement of losses related to pension and other postretirement employee benefits (OPEB).
What To Know: In a regulatory filing released after the market close on Wednesday, Ford said it expects to record a pre-tax remeasurement loss on its fourth-quarter earnings report of approximately $1.7 billion due to pension and OPEB plans.
The losses will include $500 million associated with pension plans in the U.S., $900 million associated with pension plans outside the U.S. and $300 million associated with OPEB plans globally.
Ford expects the remeasurement to decrease its net income by about $1.3 billion. The company will record the losses as a special item on its fourth-quarter results. It will not have an impact on total adjusted EBIT or adjusted earnings per share.
Ford noted that the remeasurement didn’t impact its cash position in 2023 and doesn’t change its expectations for pension contributions in 2024.
Ford is scheduled to report its fourth-quarter financial results after the market close on Feb. 6. The company is expected to report earnings of 13 cents per share on quarterly revenue of $39.562 billion, according to Benzinga Pro.
See Also: Tesla’s Next-Gen Vehicle: What We Learned From Q4 Earnings Call
F Price Action: Ford shares were down 1.27% at $10.89 at the time of publication, according to Benzinga Pro.
Photo: Wikimedia Commons
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