Summary
Ford Motor Company's (F) third quarter and first nine months of 2021 performance showed a significant rebound in profitability and revenue compared to the same periods in 2020. For the first nine months of 2021, net income attributable to Ford Motor Company surged to $5.66 billion, a substantial increase from $1.51 billion in the prior year. This growth was driven by strong performance in the Automotive segment, which saw revenues climb to $90.89 billion. Ford Credit also contributed positively, with its earnings before taxes (EBT) reaching $3.66 billion for the first nine months. Despite ongoing challenges such as the global semiconductor shortage, which impacted wholesale volumes and production, Ford demonstrated resilience. The company's focus on higher-margin products and effective pricing strategies, coupled with cost management initiatives, helped to offset some of these pressures. Ford also advanced its strategic initiatives, including investments in electrification and software development, positioning itself for future growth. The company reiterated its full-year 2021 guidance, indicating confidence in its ongoing recovery and strategic direction.
Financial Highlights
50 data points| Revenue | $35.68B |
| Cost of Revenue | $30.06B |
| Gross Profit | $5.63B |
| SG&A Expenses | $2.95B |
| Operating Expenses | $34.34B |
| Operating Income | $1.34B |
| Net Income | $1.83B |
| EPS (Basic) | $0.46 |
| EPS (Diluted) | $0.45 |
| Shares Outstanding (Basic) | 4.00B |
| Shares Outstanding (Diluted) | 4.04B |
Key Highlights
- 1For the first nine months of 2021, Net Income Attributable to Ford Motor Company increased significantly to $5.66 billion, up from $1.51 billion in the same period of 2020.
- 2Total revenues for the first nine months of 2021 rose to $98.66 billion, compared to $91.19 billion in the prior year, primarily driven by the Automotive segment.
- 3The Automotive segment's income before taxes reached $6.56 billion for the first nine months of 2021, a substantial improvement from $2.69 billion in the prior year.
- 4Ford Credit reported strong performance, with Earnings Before Taxes (EBT) of $3.66 billion for the first nine months of 2021, up from $1.70 billion in the prior year.
- 5The company continues to navigate the semiconductor shortage, with expectations that constraints may extend into 2023, impacting production volumes.
- 6Ford's management reiterated its full-year 2021 guidance for Adjusted EBIT between $10.5 - $11.5 billion and Adjusted Free Cash Flow of $4 - $5 billion, signaling confidence in future performance.
- 7The company announced the reinstatement of a regular quarterly dividend of $0.10 per share starting in the fourth quarter of 2021.