Summary
Ford Motor Company reported lower net income in the first quarter of 2019 compared to the same period in 2018, with diluted earnings per share decreasing to $0.29 from $0.44. Total revenues also saw a slight decline, from $41.96 billion to $40.34 billion. The company's adjusted EBIT, a non-GAAP measure, showed improvement, increasing to $2.4 billion from $2.1 billion year-over-year, driven by better performance in the Automotive and Ford Credit segments. The Automotive segment benefited from improved performance in North America, China, and Europe, despite facing external headwinds. Ford Credit delivered its strongest Earnings Before Taxes (EBT) in nearly nine years, supported by lower depreciation on leased vehicles and improved credit loss reserves. However, the Mobility segment incurred increased losses due to planned investments in autonomous vehicle development and mobility services. The company also highlighted ongoing global redesign actions, particularly in South America and Russia, which are expected to incur significant charges. Despite the decrease in net income, Ford maintained a strong liquidity position with $37.9 billion in cash, cash equivalents, marketable securities, and restricted cash at the end of the quarter.
Financial Highlights
51 data points| Revenue | $40.34B |
| Cost of Revenue | $33.94B |
| Gross Profit | $6.40B |
| SG&A Expenses | $2.84B |
| Operating Expenses | $39.14B |
| Operating Income | $1.20B |
| Net Income | $1.15B |
| EPS (Basic) | $0.29 |
| EPS (Diluted) | $0.29 |
| Shares Outstanding (Basic) | 3.97B |
| Shares Outstanding (Diluted) | 4.00B |
Key Highlights
- 1Net income attributable to Ford Motor Company decreased by 34% to $1.15 billion in Q1 2019, down from $1.74 billion in Q1 2018.
- 2Total revenues for the first quarter of 2019 were $40.34 billion, a decrease from $41.96 billion in the prior year's first quarter.
- 3Company Adjusted EBIT increased to $2.4 billion in Q1 2019, up from $2.1 billion in Q1 2018, indicating improved operational performance excluding certain items.
- 4Ford Credit reported its highest EBT in nearly nine years, benefiting from lower depreciation on its lease portfolio and improved credit loss reserves.
- 5The Mobility segment experienced an increased loss due to planned investments in autonomous vehicle development and mobility services.
- 6Ford announced significant global redesign actions, including exiting the commercial heavy truck business in South America and restructuring operations in Russia, with expected charges of $3 billion to $3.5 billion in 2019.
- 7The company maintained a strong liquidity position with $37.9 billion in cash, cash equivalents, marketable securities, and restricted cash as of March 31, 2019.