“We're focused on getting the products we do have in our EV portfolio profitable within the first 12 months.”
— Jim Farley
03Detailed Report
F
Ford Motor Company
Period
Q3 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedMay 18, 2026
Swipe to view all report sections
Executive Summary
Ford Motor Company reported strong financial results for the third quarter of 2024, with reported revenue of $46.20 billion, marking a 5% year-over-year increase. This success was driven primarily by robust truck sales and effective cost management strategies aimed at optimizing product mix, despite challenges presented by rising warranty expenses and competitive pricing pressures in the EV segment. Management highlighted key advancements in Ford's transition towards electric vehicles, production efficiencies, and improved service offerings through Ford Pro, which are critical to sustaining growth in a competitive marketplace.
Jim Farley, Ford's President and CEO, emphasized the company's strategic focus on cost reductions in their EV operations and the expected benefits of utilizing new battery technologies. This quarter marks the 10th consecutive quarter of revenue growth for Ford, reinforcing the effectiveness of their Ford+ strategy to streamline operations and enhance profitability, despite external headwinds.
Key Performance Indicators
Revenue
Increasing
46.20B
QoQ: -3.37% | YoY: 5.47%
Gross Profit
Decreasing
3.34B
7.22% margin
QoQ: -26.33% | YoY: -46.65%
Operating Income
Decreasing
880.00M
QoQ: -49.86% | YoY: -22.05%
Net Income
Decreasing
892.00M
QoQ: -51.28% | YoY: -25.60%
EPS
Decreasing
0.22
QoQ: -52.17% | YoY: -26.67%
Revenue Trend
Margin Analysis
Financial Highlights
1. Revenue: $46.20 billion, up 5% YoY (Q2: $47.81 billion, down 3.4% QoQ).
2. Operating Income: $880 million, down 22% YoY; Operating margin at 1.9%.
3. Net Income: $892 million, a 25.6% decrease YoY; EPS at $0.22, down 26.7% YoY.
4. EBITDA: $2.54 billion, with EBITDA margin of 5.5%, improved from 5% YoY.
5. Free Cash Flow: Strong performance at $3.2 billion for the quarter, signaling robust cash generation capabilities despite operational challenges.
6. Cash and Equivalents: $23.45 billion, a solid liquidity position to support further investments.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
46.20B
5.47%
-3.37%
Gross Profit
3.34B
-46.65%
-26.33%
Operating Income
880.00M
-22.05%
-49.86%
Net Income
892.00M
-25.60%
-51.28%
EPS
0.22
-26.67%
-52.17%
Key Financial Ratios
Gross Profit Margin
Weak
7.22%
Gross profit margin is below industry norms, profitability concerns
Operating Profit Margin
Weak
1.90%
Operating margin is below industry norms, profitability concerns
Net Profit Margin
Weak
1.93%
Net profit margin is below industry norms, profitability concerns
Return on Assets
Weak
0.31%
Return on assets suggests inefficient capital allocation
Return on Equity
Weak
2.01%
Return on equity suggests inefficient capital allocation
Current Ratio
Adequate
1.15
Current ratio meets minimum requirements but limited cushion
Debt to Equity
High Risk
3.59
Debt-to-equity indicates high leverage and elevated financial risk
P/E Ratio
Value
11.77x
P/E ratio suggests potential undervaluation or stable earnings
Price to Book
Undervalued
0.95x
Trading below book value, potential value opportunity or distressed
Management Insights Available for Members
Get exclusive access to management commentary, earnings call quotes, and forward guidance from company leadership.