Ford Motor Company (NYSE: F) will report its Q4 2021 Earnings today. The automaker is in the midst of a massive shift to electrification, surged by billions of dollars in investments and a reputation as one of the most successful legacy automotive companies to turn to EVs in a changing sector so far. Ford’s Earnings Call is set to begin at 4:05 PM EST today. Here’s what to expect.
Wall Street Consensus
Wall Street expectations predict that Ford will post a profit of .45 cents per share and an increase in revenue to $35.5 billion. The estimates are courtesy of Refinitiv, a global provider of financial market data and infrastructure. Increases in EPS are attributed to Ford’s improved semiconductor situation. As noted by GM earlier this week in their Q4 Earnings Call, CEO Mary Barra believes shortages in semiconductor availability will decrease. By Q3 and Q4, Barra said that “we’re going to be really starting to see the semiconductor constraints diminish.”
Ford was affected by the semiconductor shortage, as was every automotive company on the planet. However, there is an indication from several companies and sector analysts that the issues regarding chip shortages could subside by late 2022, which will only provide positive benefits for the electrification industry as more vehicles can be delivered due to a plentiful chip and semiconductor supply.
Ford’s Farley commits to 600k units in 22 months: ‘I think we’re one of the first to scale’
Growth
Ford has already outlined tremendous growth targets on behalf of CEO Jim Farley. Farley committed Ford to several increased production capacity plans, one for the F-150 Lightning and one for the Mustang Mach-E. Additionally, Farley said Ford should be able to deliver 600,000 electric vehicles in 22 months, citing that he feels the company could be the first legacy automaker to scale EVs.
Ford’s electrification switch has already contributed to a strong shift in powertrain choice. Ford saw growth overall in January 2022 compared to the same month in 2021, but most of the growth was due to its electrification options. With the F-150 Lightning order bank opening up in January, pre-order holders were able to finalize their trim and package level for Ford’s introductory electric truck.
According to Refinitiv, analysts believe Ford will earn between $1.54 and $2.35 EPS on revenue of $147.5 billion.
Ford’s stock price has increased substantially since Farley took the CEO position in 2020. The automaker recently achieved a $100 billion valuation due to the increase.
Rivian
CNBC notes that some analysts may have skewed forecasts if they did not pay attention to Ford’s financing adjustments that it revealed last month. Ford stated that it made $8.2 billion on its investment in Rivian. The gains occurred when the company went public.
“The company also reclassified a $900 million profit on its equity investment in Rivian to a special item which will impact the company’s full-year adjusted earnings guidance,” CNBC wrote in its synopsis of Ford’s Earnings Call.
Analysts Consensus
Dan Ives, an analyst for Wedbush, said, “Huge step in the right direction as Farley doubling down on EV vision. We believe Ford is in the midst of massive EV transformation led by Electric F-150.”
Additionally, Philippe Houchois of Jeffries stated, “Ford is back, with strong earnings and a repaired balance sheet. Shares have also rerated on recovered earnings that now approach cyclical highs.”
Disclosure: Joey Klender is not a Ford Stockholder.
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Elon Musk
SpaceX just filed for the IPO everyone was waiting for
SpaceX filed its public S-1, revealing $18.7 billion in revenue and billions in losses.
SpaceX publicly filed its S-1 registration statement with the Securities and Exchange Commission on May 20, 2026, making its financial details available to the public for the first time ahead of what could be the largest IPO in history.
An S-1 is the formal document a company must submit to the SEC before going public. It includes audited financials, risk factors, business descriptions, and how the company plans to use the money it raises. Companies are required to file one before selling shares to the public, and it must be published at least 15 days before the investor roadshow begins. SpaceX had already submitted a confidential draft to the SEC in April, which allowed regulators to review the filing privately before it went public.
The S-1 reveals that SpaceX generated $18.7 billion in consolidated revenue in 2025, driven largely by its Starlink satellite internet division, which posted $11.4 billion in revenue, growing nearly 50% year over year. Despite that growth, the company lost about $4.9 billion in 2025 and has burned through more than $37 billion since its founding.
SpaceX just forced Verizon, AT&T and T-Mobile to team up for the first time in history
A significant portion of those losses trace back to xAI, Elon Musk’s artificial intelligence company, which was recently merged into SpaceX. SpaceX directed roughly 60% of its capital spending in 2025 to its AI division, totaling around $20 billion, yet that division lost billions and grew revenue by only about 22%.
SpaceX plans to list its Class A common stock on Nasdaq under the ticker SPCX, with Goldman Sachs, Morgan Stanley, and Bank of America leading the offering. The dual-class share structure means going public will not meaningfully reduce Musk’s control, as Class B shares he holds carry 10 votes per share compared to one vote for public Class A shares.
The company is targeting a raise of around $75 billion at a valuation of roughly $1.75 trillion, which would make it the largest IPO ever. The investor roadshow is reportedly planned for June 5.
Elon Musk
Tesla ditches India after years of broken promises
Tesla has ditched its plans to build a factory in India after years of failed negotiations.
Tesla’s long-running effort to establish a manufacturing presence in India is officially over. India’s Minister of Heavy Industries H.D. Kumaraswamy confirmed on May 19, 2026 that Tesla has informed authorities it will not proceed with a manufacturing facility in the country.
Tesla first signaled serious interest in India around 2021, when it began hiring local staff and lobbying the Indian government for lower import tariffs. The ask was straightforward: reduce duties enough for Tesla to test the market with imported vehicles before committing capital to a local factory. India’s position was equally firm, with an ask of Tesla to commit to manufacturing first, then receive tariff relief. Neither side moved, and the talks quietly collapsed.
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India had offered a policy that would reduce import duties from 110% down to 15% on EVs priced above $35,000, provided companies committed at least $500 million toward local manufacturing investment within three years. Tesla declined to participate. The tariff standoff was only part of the problem. Analysts pointed to significant gaps in India’s local supply chain, inadequate industrial infrastructure, and a mismatch between Tesla’s premium pricing and the purchasing power of India’s automotive market as additional factors that made the investment difficult to justify.
First signs of an unraveling relationship came in April 2024, when Musk abruptly cancelled a planned trip to India where he was set to meet Prime Minister Modi and announce Tesla’s market entry. By July 2024, Fortune reported that Tesla executives had stopped contacting Indian government officials entirely. The government at that point understood Tesla had capital constraints and no plans to invest.
The more fundamental issue is that Tesla’s existing factories are currently operating at approximately 60% capacity, making a commitment to building new manufacturing capacity in a new market difficult to defend to investors. Tesla will continue selling imported Model Y vehicles through its existing showrooms in Mumbai, Delhi, Gurugram, and Bengaluru, but local production is no longer part of the plan.
Elon Musk
SpaceX just forced Verizon, AT&T and T-Mobile to team up for the first time in history
AT&T, T-Mobile, and Verizon just joined forces for one reason: Starlink is winning.
America’s three largest wireless carriers, AT&T, T-Mobile, and Verizon, announced on On May 14, 2026 that they had agreed in principle to form a joint venture aimed at pooling their spectrum resources to expand satellite-based direct-to-device (D2D) connectivity across the United States in what can be seen as a direct response to SpaceX’s Starlink initiative. D2D, in plain terms, is technology that lets a standard smartphone connect directly to a satellite in orbit, the same way it connects to a cell tower, with no extra hardware required.
The alliance is widely seen as a means to slow Starlink’s rapid expansion in the satellite internet and mobile markets. SpaceX’s Starlink Mobile service launched commercially in July 2025 through a partnership with T-Mobile, starting with messaging before expanding to broadband data. SpaceX secured access to valuable wireless spectrum through its $17 billion deal with EchoStar, paving the way for significantly faster satellite-to-phone speeds.
SpaceX was not shy about its reaction. SpaceX president and COO Gwynne Shotwell responded on X: “Weeeelllll, I guess Starlink Mobile is doing something right! It’s David and Goliath (X3) all over again — I’m bettin’ on David.” SpaceX’s VP of Satellite Policy David Goldman went further, flagging potential antitrust concerns and asking whether the DOJ would even allow three dominant competitors to coordinate in a market where a new rival is actively entering.
Weeeelllll, I guess @Starlink Mobile is doing something right! It’s David and Goliath (X3) all over again — I’m bettin’ on David 🙂 https://t.co/5GzS752mxL
— Gwynne Shotwell (@Gwynne_Shotwell) May 14, 2026
Financial analysts at LightShed Partners were blunt, saying the announcement showed the three carriers are “nervous,” and pointed to the timing: “You announce an agreement in principle when the point is the announcement, not the deal. The timing, weeks ahead of the SpaceX roadshow, was the point.”
As Teslarati reported, SpaceX’s next generation Starlink V2 satellites will deliver up to 100 times the data density of the current system, with custom silicon and phased array antennas enabling around 20 times the throughput of the first generation. The carriers’ JV, which has no definitive agreement, no financial structure, and no deployment timeline yet, will need to move quickly to matter.
Elon Musk’s SpaceX is targeting a Nasdaq listing as early as June 12, aiming for what would be the largest IPO in history. With Starlink now serving over 9 million subscribers across 155 countries, holding 59 carrier partnerships globally, and now powering Air Force One, the carriers’ joint venture announcement landed at exactly the wrong time to look like anything other than a defensive move.
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