Ford Motor Company Q1 2024 Earnings Report Overview
Ford Motor Company Q1 2024 Earnings Report
Ford Motor Company (NYSE: F) reported a modest increase in sales for the first quarter of 2024. Meanwhile, adjusted earnings of the car maker declined by double digits. March quarter revenue increased 3% year-over-year to $42.8 billion.
Key Highlights:
- The top line benefitted from strong growth in the Ford Pro division.
- Adjusted earnings declined 22% from last year to $0.49 per share.
- On an unadjusted basis, the company reported a net income of $1.33 billion for Q1.
“Customers want vehicles that they’re passionate about, choices in how they’re powered, quality that’s constantly getting better, and great value. With Ford+, we’re increasingly giving them all those things in ways that others don’t and creating a company that will lead for the long haul,” said Ford's CEO Jim Farley.
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