Summary
Ford Motor Company reported its first-quarter 2015 results, showing a decrease in total revenues to $33.9 billion from $35.9 billion in the prior year. This decline was primarily driven by the Automotive segment, which saw revenues fall to $31.8 billion from $33.9 billion, impacted by unfavorable foreign exchange rates due to a strong U.S. dollar and lower wholesale volumes related to product launches. Despite lower revenues, the company reported a net income attributable to Ford Motor Company of $924 million, or $0.23 per diluted share, compared to $989 million, or $0.24 per diluted share, in the first quarter of 2014. The Financial Services segment remained a stable contributor, with revenues increasing slightly and income before taxes remaining strong. The company highlighted improvements in Automotive operating margin to 3.6% and maintained its full-year outlook for strong top-line growth and improved profitability. Key strategic initiatives, including new product launches and capacity expansions in Asia Pacific, are expected to drive future performance. Ford also provided an update on its commitment to reducing Automotive debt and strengthening its balance sheet. Overall, the report indicates a company navigating currency headwinds and product transition challenges while maintaining a positive outlook driven by strategic investments and product pipeline.
Financial Highlights
32 data points| Revenue | $33.90B |
| Cost of Revenue | $28.47B |
| Gross Profit | $5.43B |
| SG&A Expenses | $3.46B |
| Operating Expenses | $32.66B |
| Net Income | $1.15B |
| EPS (Basic) | $0.29 |
| EPS (Diluted) | $0.29 |
| Shares Outstanding (Basic) | 3.96B |
| Shares Outstanding (Diluted) | 4.00B |
Key Highlights
- 1Total revenues decreased by 5.5% to $33.9 billion in Q1 2015 compared to $35.9 billion in Q1 2014.
- 2Net income attributable to Ford Motor Company decreased to $924 million ($0.23/share) in Q1 2015 from $989 million ($0.24/share) in Q1 2014.
- 3Automotive sector revenue declined 6% to $31.8 billion, impacted by unfavorable exchange rates and lower volumes due to product launches.
- 4Automotive operating margin improved slightly to 3.6% from 3.4% in the prior year's quarter.
- 5Financial Services sector revenue increased to $2.1 billion from $2.0 billion, with income before taxes remaining stable at $469 million.
- 6Ford Credit's managed receivables were $112.9 billion as of March 31, 2015, largely unchanged from year-end 2014.
- 7The company is on track to meet its full-year guidance for total company pre-tax profit of $8.5 billion to $9.5 billion (excluding special items).