10-QPeriod: Q3 FY2009

FORD MOTOR CO Quarterly Report for Q3 Ended Sep 30, 2009

Filed November 6, 2009For Securities:FF-PCF-PDF-PB

Summary

Ford Motor Company (F) reported a significant turnaround in the third quarter of 2009, demonstrating a substantial improvement in financial performance compared to the same period in the prior year. The company achieved a net income of $997 million, or $0.29 per diluted share, a stark contrast to the net loss of $161 million, or $0.07 per share, reported in Q3 2008. This improvement was driven by a recovery in both the Automotive and Financial Services sectors. The Automotive sector's pre-tax income turned positive at $545 million from a loss of $732 million, largely due to favorable net pricing and cost improvements. The Financial Services sector also saw a considerable boost in pre-tax income, reaching $670 million compared to $159 million in the prior year, primarily attributed to lower depreciation on leased vehicles and a reduced provision for credit losses.

Financial Highlights

32 data points
Beta

Revenue

$30.27B

18.0% Gross Margin

Net Income

$1.01B

3.3% Net Margin

EPS (Diluted)

$0.29

Total Assets

$203.11B

Cash & Equivalents

$25.18B

Free Cash Flow

$5.71B

Financial Statements
Beta
Revenue$30.27B
Cost of Revenue$24.82B
Gross Profit$5.46B
SG&A Expenses$3.00B
Operating Expenses$29.56B
Operating Income$1.83B
Interest Expense$1.61B
Net Income$1.01B
EPS (Basic)$0.31
EPS (Diluted)$0.29
Shares Outstanding (Basic)3.26B
Shares Outstanding (Diluted)3.59B

Key Highlights

  • 1Ford Motor Company reported a net income of $997 million for Q3 2009, a significant improvement from a net loss of $161 million in Q3 2008.
  • 2Diluted earnings per share were $0.29, compared to a loss of $0.07 in the prior year's quarter.
  • 3The Automotive sector turned profitable, reporting $545 million in pre-tax income versus a $732 million loss in Q3 2008.
  • 4The Financial Services sector's pre-tax income increased to $670 million from $159 million in Q3 2008.
  • 5Total company sales and revenues for the third quarter were $30.89 billion, a slight decrease from $31.75 billion in the prior year's quarter.
  • 6Ford's cash and cash equivalents, along with marketable securities, stood at $48.3 billion as of September 30, 2009, an increase from $39.5 billion at December 31, 2008, indicating improved liquidity.
  • 7The company announced its intention to issue $2.5 billion in Senior Convertible Notes due 2016, signaling proactive capital management.

Frequently Asked Questions

Ford reported a net income of $997 million, or $0.29 per diluted share, for the third quarter of 2009. This represents a significant improvement from the net loss of $161 million, or $0.07 per diluted share, reported in the third quarter of 2008.

The Automotive sector showed a strong recovery, reporting a pre-tax income of $545 million in the third quarter of 2009, a substantial turnaround from a pre-tax loss of $732 million in the same period of 2008. This improvement was driven by factors such as favorable net pricing and cost reductions.

Ford's liquidity position improved, with total cash, cash equivalents, and marketable securities amounting to $48.3 billion at September 30, 2009. This is an increase from $39.5 billion at December 31, 2008, indicating enhanced financial flexibility.

Yes, Ford announced its intention to issue $2.5 billion in Senior Convertible Notes due November 15, 2016. This move aims to bolster corporate purposes and manage its capital structure.