Ford Motor Co. said precocious Tuesday it volition station an $8.2 cardinal summation successful the 4th fourth related to its concern successful Rivian Automotive Inc. pursuing the electric-vehicle maker’s November archetypal nationalist offering.
Ford was an aboriginal capitalist successful Rivian, a shaper of SUVs and electrical pickup trucks that became a nationalist institution successful November. Rivian’s well-heeled backers besides see Amazon.com Inc. AMZN, -1.99%, with the EV shaper making electrical transportation vans for Amazon.
Rivian’s IPO was the largest of 2021, successful itself a red-hot twelvemonth for the IPO market, and the seventh-largest U.S. IPO by connection size successful astir 30 years.
Ford said it was detailing peculiar items up of its fourth-quarter and full-year 2021 net study expected successful Feb 3.
The items are included successful the reported GAAP nett income and per-share earnings, but excluded from the non-GAAP adjusted net and adjusted EPS, the car shaper said.
Ford besides said it was signaling astir $1.7 cardinal successful costs associated with buying backmost and redeeming high-cost indebtedness successful the 4th quarter, a measurement it took to “further fortify the company’s equilibrium expanse and trim ongoing involvement expenses.” The car shaper besides reported a $3.6 cardinal non-cash payment related to taxation operation changes.
Ford banal has rallied successful caller sessions, and is up 150% successful the past 12 months, which compares with gains of astir 22% for the S&P 500 scale SPX, -1.84% implicit the past year. Rivian banal connected Tuesday ended astatine $73.16, closing beneath its IPO terms for the archetypal time.