United States. Ford Motor Company has announced positive results for the third quarter of 2024, highlighting revenue of $46 billion and net income of $0.9 billion, despite a $1 billion charge related to electric vehicles.
With an adjusted EBIT of $2.6 billion, the company demonstrates sustained growth and strong product alignment in the market.
The Ford Pro division, in charge of commercial solutions, showed a 13% increase in revenue, reaching 15.7 billion dollars. Subscriptions for its Ford Pro Intelligence software also soared 30%, reaching nearly 630,000 users. This momentum reflects the growing demand for digital services and fleet solutions.
"We are in a strong position with Ford+ in the midst of a significant industrial transformation," said Jim Farley, Ford president and CEO. "We have made strategic decisions that put us ahead of the competition in key areas, including electric vehicles and international operations."
Cash flow from operations was robust, reaching $5.5 billion, with adjusted free cash flow of $3.2 billion. At the end of the quarter, the company had close to $28 billion in cash and $46 billion in liquidity, giving it remarkable flexibility in a changing market environment.
Ford also declared a regular dividend of 15 cents per share for the fourth quarter, to be paid on Dec. 2, reaffirming its commitment to shareholders.
Ford Pro generated $1.8 billion in EBIT with an 11.6% margin, thanks to strong demand for Super Duty trucks and Transit vans. In addition, sales volume in North America grew by 8%, driven by the launch of new trucks and SUVs.
On the other hand, global sales of hybrid vehicles increased by 30%, consolidating Ford's position in the market. The company achieved a 77% share in the hybrid truck segment in the U.S., with a 42% increase in sales in this segment during the quarter.
With an adjusted EBIT projection of approximately $10 billion for the full year 2024, Ford is firmly positioned to continue to lead the automotive industry in the era of electrification and digitalization.
