Summary
Ford Motor Company's third quarter 2017 results showed a significant increase in net income attributable to Ford, rising to $1.564 billion from $957 million in the prior year's third quarter. This translated to a diluted EPS of $0.39, up from $0.24 in the same period last year. Total revenues for the quarter reached $36.5 billion, a slight increase driven by the Automotive segment. The company highlighted improved profitability across most operating segments, with the Automotive segment's pre-tax results showing a notable increase due to favorable cost performance and market factors. The Financial Services segment also contributed positively with increased pre-tax profit, driven by strong receivables growth and lease residual performance. While overall results were strong, the company did experience a wider loss in the 'All Other' segment, primarily due to Ford Smart Mobility LLC's performance and increased net interest expense.
Financial Highlights
47 data points| Revenue | $36.45B |
| Cost of Revenue | $30.27B |
| Gross Profit | $6.18B |
| SG&A Expenses | $2.92B |
| Operating Expenses | $35.45B |
| Interest Expense | $284.00M |
| Net Income | $1.57B |
| EPS (Basic) | $0.40 |
| EPS (Diluted) | $0.39 |
| Shares Outstanding (Basic) | 3.97B |
| Shares Outstanding (Diluted) | 4.00B |
Key Highlights
- 1Net income attributable to Ford increased significantly to $1.564 billion in Q3 2017 from $957 million in Q3 2016.
- 2Diluted Earnings Per Share (EPS) improved to $0.39 in Q3 2017, up from $0.24 in the prior year's Q3.
- 3Total revenues for the third quarter were $36.5 billion, a modest increase from $35.9 billion in Q3 2016.
- 4The Automotive segment's pre-tax results saw a substantial improvement, driven by favorable cost performance and market factors, including the non-repeat of a recall from the prior year.
- 5Ford Credit's pre-tax profit increased, benefiting from strong receivables growth and improved lease residual performance.
- 6The company maintained a strong liquidity position with $26.1 billion in Automotive cash and $37 billion in total Automotive liquidity at the end of the quarter.
- 7Ford updated its full-year 2017 adjusted EPS guidance to a range of $1.75 to $1.85, reflecting improved operating performance and cost initiatives.