Summary
Ford Motor Company reported solid financial results for the second quarter and first half of 2011. Total revenues saw a slight increase year-over-year, reaching $35.5 billion for the quarter and $68.6 billion for the first half. Net income attributable to Ford Motor Company was $2.4 billion in Q2 2011, a decrease from the prior year's $2.6 billion, but the first half of 2011 saw an increase to $4.9 billion from $4.7 billion in the same period last year. The Automotive sector demonstrated improved operational performance with higher revenues and pre-tax operating profit, driven by strong net pricing and favorable volume/mix, particularly in North America. The Financial Services sector, primarily Ford Credit, experienced a decrease in pre-tax operating profit due to lower credit loss reserve reductions and the non-recurrence of favorable lease depreciation expense from the prior year. Ford maintained a strong liquidity position with a significant increase in gross cash and a net cash position in its Automotive sector.
Financial Highlights
36 data points| Revenue | $35.53B |
| Cost of Revenue | $29.25B |
| Gross Profit | $6.27B |
| SG&A Expenses | $2.91B |
| Operating Expenses | $33.31B |
| Operating Income | $4.95B |
| Interest Expense | $1.13B |
| Net Income | $2.40B |
| EPS (Basic) | $0.63 |
| EPS (Diluted) | $0.59 |
| Shares Outstanding (Basic) | 3.80B |
| Shares Outstanding (Diluted) | 4.10B |
Key Highlights
- 1Total revenues for Q2 2011 were $35.5 billion, a slight increase from $35.1 billion in Q2 2010.
- 2Net income attributable to Ford Motor Company for Q2 2011 was $2.4 billion ($0.59 per share), down from $2.6 billion ($0.61 per share) in Q2 2010.
- 3First half 2011 net income attributable to Ford Motor Company was $4.9 billion ($1.20 per share), an increase from $4.7 billion ($1.10 per share) in the first half of 2010.
- 4Automotive sector pre-tax operating profit increased by $209 million year-over-year in Q2 2011, driven by higher net pricing and favorable volume/mix.
- 5Ford Credit's pre-tax operating profit decreased by $284 million year-over-year in Q2 2011 due to lower credit loss reserve reductions and non-recurring lease depreciation benefits.
- 6Automotive sector gross cash stood at $22.0 billion at June 30, 2011, with Automotive liquidity reaching $32.2 billion.
- 7The company is on track to achieve full-year 2011 pre-tax operating profit improvement and Automotive operating-related cash flow growth compared to 2010, although second-half results are expected to be lower than the first half.