Summary
Ford Motor Company's Q3 2016 report shows a mixed financial performance compared to the prior year. While total revenues decreased, driven by a decline in the Automotive segment, net income attributable to Ford also significantly decreased, primarily due to lower Automotive segment pre-tax results. The company highlighted strong performance in North America, Europe, and Asia Pacific within its Automotive segment, despite overall revenue challenges. The Financial Services segment, largely driven by Ford Credit, demonstrated robust profitability and growth in receivables. Looking ahead, Ford indicated a cautious outlook for the global business environment, with modest growth expected. The company reaffirmed its full-year guidance for total adjusted pre-tax profit, expecting it to be around $10.2 billion, reflecting a second-best performance since 2000. Key areas of focus include managing production volumes, cost efficiencies, and investing in emerging mobility services.
Financial Highlights
42 data points| Revenue | $35.94B |
| Cost of Revenue | $30.67B |
| Gross Profit | $5.28B |
| SG&A Expenses | $2.66B |
| Operating Expenses | $35.52B |
| Interest Expense | $238.00M |
| Net Income | $957.00M |
| EPS (Basic) | $0.24 |
| EPS (Diluted) | $0.24 |
| Shares Outstanding (Basic) | 3.97B |
| Shares Outstanding (Diluted) | 4.00B |
Key Highlights
- 1Net income attributable to Ford Motor Company decreased to $957 million ($0.24 EPS) in Q3 2016 from $2,192 million ($0.55 EPS) in Q3 2015.
- 2Total revenues for Q3 2016 were $35.943 billion, down from $38.144 billion in Q3 2015, primarily due to a decrease in Automotive segment revenue.
- 3Automotive segment pre-tax results for Q3 2016 were $1.084 billion, a significant decrease from $2.762 billion in Q3 2015, impacted by lower volume and higher warranty costs.
- 4Financial Services segment pre-tax profit was strong at $552 million in Q3 2016, up slightly from $526 million in Q3 2015, with Ford Credit showing its best quarterly profit since 2011.
- 5Company total assets increased to $234.963 billion as of September 30, 2016, from $224.925 billion as of December 31, 2015.
- 6Ford maintained a strong liquidity position, with $24.3 billion in Automotive cash and $35.2 billion in total Automotive liquidity as of September 30, 2016.
- 7The company reaffirmed its full-year 2016 adjusted pre-tax profit guidance of approximately $10.2 billion.