Summary
Ford Motor Company reported a strong financial performance for the third quarter and the first nine months of 2013, demonstrating significant year-over-year improvements in revenue and profitability. Total revenues for the third quarter increased to $35.98 billion from $32.17 billion in the prior year, while net income attributable to Ford Motor Company was $1.27 billion. For the first nine months, total revenues reached $109.88 billion, with net income of $4.12 billion. The company's Automotive segment was the primary driver of this growth, with revenues rising substantially due to higher volumes and improved pricing across most regions, particularly in North America and Asia Pacific Africa. The Financial Services segment also contributed positively, although with more modest growth. Ford highlighted effective cost management and strategic investments in future products as key factors in its performance. The company reiterated its positive full-year outlook, anticipating continued strength in its core automotive operations and financial services.
Financial Highlights
33 data points| Revenue | $35.77B |
| Cost of Revenue | $30.03B |
| Gross Profit | $5.75B |
| SG&A Expenses | $3.23B |
| Operating Expenses | $34.07B |
| Net Income | $1.27B |
| EPS (Basic) | $0.32 |
| EPS (Diluted) | $0.31 |
| Shares Outstanding (Basic) | 3.94B |
| Shares Outstanding (Diluted) | 4.10B |
Key Highlights
- 1Total revenues for Q3 2013 increased by approximately 11.8% to $35.98 billion compared to $32.17 billion in Q3 2012.
- 2Net income attributable to Ford Motor Company for Q3 2013 was $1.27 billion, a decrease from $1.63 billion in Q3 2012, primarily due to special item charges.
- 3For the first nine months of 2013, total revenues grew by approximately 12.3% to $109.88 billion from $97.83 billion in the same period of 2012.
- 4Automotive segment revenues saw a significant increase, driven by higher volumes and improved net pricing across regions.
- 5Ford North America demonstrated continued strong performance, maintaining a healthy operating margin of over 10% in Q3 2013.
- 6The company's outlook for the full year 2013 remained positive, with expectations for higher total company pre-tax profit and Automotive operating margin compared to 2012.
- 7Special items, including separation-related actions in Europe and pension lump-sum program costs, significantly impacted net income in Q3 2013.