Ford Q4 2024 earnings were headlined by $1.8 billion in net income on $48.2 billion in revenue. Compared to the fourth quarter of 2023, the results represent a 460 percent or $2.3 billion increase in net income and a 4.8 percent or $2.2 billion increase in revenue.
The performance represents a net income margin of 3.8 percent, up 4.9 percentage points from negative 1.1 percent in Q4 2023. Earnings per share (EPS) diluted was $0.45, up $0.58 or 446 percent from negative $0.13 in Q4 2023. Cash flow from operating activities was $3.0 billion, up 20 percent or $500 million from the $2.5 billion in Q4 2023.
FoMoCo Q4 2024 Earnings Summary
| METRIC | UNIT | Q4 2024 | Q4 2023 | CHANGE | % CHANGE |
|---|---|---|---|---|---|
| WHOLESALE UNITS | THOUSANDS OF VEHICLES | 1,188 | 1,152 | 36 | +3.13 |
| GAAP METRICS | |||||
| REVENUE | BILLION USD | $48.2 | $46.0 | +$2.2 | +4.8% |
| NET INCOME | BILLION USD | $1.8 | -$0.5 | +$2.3 | +460% |
| NET INCOME MARGIN | PERCENT | 3.8% | -1.1% | +4.9 PPTS | N/A |
| EARNINGS PER SHARE (EPS) DILUTED | USD PER SHARE | $0.45 | $(0.13) | +$0.58 | +446.2% |
| CASH FLOW FROM OPERATING ACTIVITIES | BILLION USD | $3.0 | $2.5 | +$0.50 | +20% |
| NON GAAP METRICS | |||||
| ADJUSTED FREE CASH FLOW | BILLION USD | $0.7 | $2.0 | $-1.30 | -65% |
| EBIT-ADJUSTED | BILLION USD | $2.1 | $1.1 | +$1.00 | +90.9% |
| EBIT-ADJUSTED MARGIN | PERCENT | 4.4% | 2.3% | +2.1 PPTS | N/A |
| EPS DILUTED - ADJUSTED | USD PER SHARE | $0.39 | $0.29 | +$0.10 | +34.5% |
| ROIC - ADJUSTED | PERCENT (TRAILING FOUR QTRS) | 12.9 | 13.9 | -1.0 PPTS | N/A |
Earnings
Earnings Before Interest and Taxes, adjusted (EBIT-adjusted) was $2.1 billion, up $1 billion or 91 percent compared to the $1.1 billion during the year-ago quarter, on to an EBIT-adjusted margin of 4.4 percent, up 2.1 percentage points from the 2.3 percent in Q4 2023.
Diluted earnings per share – adjusted (EPS-adjusted) was $0.39, up $0.10 or 34.5 percent from $0.29 in the year-ago quarter.
Adjusted free cash flow was $0.7 billion, down $1.3 billion or 65 percent compared to the $2.0 billion in Q4 2023.
Global Sales
Ford Motor Company recorded 1.188 million vehicle deliveries globally during Q4 2024, up 3.13 percent or around 36K vehicles year-over-year compared to the 1.152 million deliveries during the same time frame a year ago.
FoMoCo Q4 2024 Divisional Summary
| METRIC | UNIT | Q4 2024 | Q4 2023 | CHANGE | % CHANGE |
|---|---|---|---|---|---|
| FORD BLUE | |||||
| WHOLESALES | 000 | 774 | 758 | +16.0 | +2.1% |
| REVENUE | BILLION USD | $27.3 | $26.2 | +$1.1 | +4.2% |
| EBIT | MILLION USD | $1,581 | $813 | +$768.0 | +94.5% |
| EBIT MARGIN | PERCENT | 5.8% | 3.1% | +2.7 PPTS | N/A |
| FORD MODEL E | |||||
| WHOLESALES | 000 | 37 | 34 | +3.0 | +8.8% |
| REVENUE | BILLION USD | $1.4 | $1.6 | $-0.2 | -12.5% |
| EBIT | MILLION USD | -$1,389 | -$1,570 | +$181.0 | +11.5% |
| EBIT MARGIN | PERCENT | -98.1% | -98.2% | +0.1 PPTS | N/A |
| FORD PRO | |||||
| WHOLESALES | 000 | 378 | 361 | +17.0 | +4.7% |
| REVENUE | BILLION USD | $16.2 | $15.4 | +$0.8 | +5.2% |
| EBIT | MILLION USD | $1,629 | $1,811 | $-182.0 | -10% |
| EBIT MARGIN | PERCENT | 10.0% | 11.8% | -1.7 PPTS | N/A |
Ford Blue
Ford Blue, the company’s gasoline and hybrid vehicle business, reported:
- 774K vehicle deliveries, up 2.1 percent year-over-year
- $27.3 billion in revenue, up 4.2 percent year-over-year
- $1,581 million in Earnings Before Interest and Tax (EBIT), up 94.5 percent year-over-year, on to an EBIT margin of 5.8 percent, up 2.7 percentage points
Ford Model E
Ford Model E, the automaker’s emerging electric vehicle division, posted:
- 37K vehicle deliveries, up 8.8 percent year-over-year
- $1.4 billion in revenue, down 12.5 percent year-over-year
- -$1,389 million in Earnings Before Interest and Tax (EBIT), a loss that’s 11.5 percent lower than the same time frame a year ago, on to an EBIT-adjusted margin of -$98.1 percent
Ford Pro
Ford Pro, the division focused on commercial vehicles and customers, posted:
- 378K vehicle deliveries, up 4.7 percent year-over-year
- $16.2 billion in revenue, up 5.2 percent year-over-year
- $1,629 million in Earnings Before Interest and Tax (EBIT), down 10 percent, on to an EBIT-adjusted margin of 10 percent, down 1.7 percentage points
Guidance
Ford also announced that it anticipates the following performance for the 2025 calendar year:
- EBIT-adjusted of $7.0 billion to $8.5 billion
- Adjusted free cash flow of $3.5 billion to $4.5 billion
- Capital expenditures of $8.0 billion to $9.0 billion
The guidance presumes headwinds related to market factors. The Dearborn-based automaker also stated that it expects first quarter 2025 adjusted EBIT to be roughly breakeven due to lower wholesales and unfavorable mix, including launch activity at major U.S. assembly plants, including the Ford Kentucky Truck and Ford Michigan Assembly plants.
The outlook for the 2025 calendar year per division is as follows:
- Ford Pro: EBIT of $7.5 billion to $8.0 billion
- Ford Blue: $3.5 billion to $4.0 billion
- Ford Model e: EBIT loss of $5.0 billion to $5.5 billion for Ford Model e
- Ford Credit: earnings before taxes of about $2.0 billion
Ford plans to report first-quarter 2025 financial results after the close of market on Monday, April 28th.
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Comments
Also, bring back the Continental.
And this means that we’re stuck with the doofs running the show for another, and hopefully final, year.
Use common sense! Do not build corvette rival. Build some sedans like taurus for young generations who don’t want to drive station wagons ,“ hatchbacks”.
So after expenses Ford netted the salary of two and a half Juan Soto’s.
Greedy fargers, lower prices and quit fleecing AMERICANS!