Ford: UAW Contract Cost $8.8 Billion

File - United Auto Workers members walk in the Labor Day parade in Detroit on Sept. 4, 2023. The union is threatening to strike any automaker that hasn't reached an agreement by the time contracts expire on Sept. 14. (AP Photo/Paul Sancya, File)
  • Ford Motor on Thursday reinstated 2023 guidance after pulling its forecast last month due to the impacts of labor strikes and negotiations with the United Auto Workers union.
  • The guidance calls for $10 billion to $10.5 billion in adjusted earnings before interest and taxes, or EBIT, and adjusted free cash flow of between $5 billion and $5.5 billion.
  • Ford said the new UAW labor agreement is expected to cost $8.8 billion over the life of the contract, which expires in April 2028.