Ford Motor Co f Shares move higher on Thursday after the company updated some financial targets and announced changes to its reporting structure “Learn” event..

What happened: Ford will no longer report financials based on regional markets. Instead, the automaker will report in three separate segments: Ford Blue (gasoline and hybrid vehicles), Ford Model e (EVs), and Ford Pro (commercial products and services).

“We have essentially ‘refounded’ Ford with business segments that bring a new level of strategic clarity, insight and accountability to the Ford+ plan for growth and value,” he said John LawlerChief Financial Officer of Ford.

“It’s not just about changing the way we report financial results; we are changing the way we think, make decisions and run the business and allocate capital for the highest returns.”

The Detroit automaker expected losing about $3 billion in its EV business this year. Ford Blue is expected to generate around $7 billion in EBIT and Ford Pro is expected to bring in around $6 billion.

Ford reiterated its full-year 2023 adjusted EBIT guidance of $9 billion to $11 billion. The company expects full-year adjusted free cash flow of $6 billion. Ford also reiterated that it still expects margins of 10% through the end of 2026.

The company plans to report its first quarter results on May 2nd. Thursday’s event is scheduled to begin at 10:00 a.m. ET. on the New York Stock Exchange.

See also: Ford’s newest feature: Punishment mode for defaulting car owners

F price action: Ford shares rose 1.66% to $11.67 on Thursday morning before the event Gasoline Pro.

Photo: courtesy of Ford.