Ford Motor Company (F) Q1 2024 Earnings Report

In Q1 2024, Ford Motor Company reported a revenue of $42.8 billion, reflecting a 3% year-over-year growth. However, challenges in profitability were evident with a net income of $1.332 billion, down 24% from the previous year, alongside rising costs primarily driven by investments in the Ford Pro business segment meant to bolster growth. Management underscored their commitment to creating a more resilient business model through the Ford+ strategy while addressing the need for improved profitability, particularly within their electric vehicle segment. Key highlights included growth in Ford Pro revenue by 36% and a 21% increase in wholesales, indicating strong performance in commercial vehicles despite pressure on the Model e segment from pricing strategies in a competitive EV market.