Ford Motor Company (F) Bundle
A Brief History of Ford Motor Company
Ford Motor Company, founded in 1903, has been a pivotal player in the automotive industry for over a century. As of 2024, the company continues to adapt to market changes, especially in the electric vehicle (EV) segment.
Recent Financial Performance
In the third quarter of 2024, Ford reported a net income of $892 million, compared to $1,199 million in the same quarter of 2023. The company's adjusted EBIT for the same period was $2,550 million, up from $2,198 million year-over-year.
Segment Performance Overview
Ford's operations are categorized into several segments, each contributing differently to the overall financial results:
| Segment | Q3 2023 Revenue ($M) | Q3 2024 Revenue ($M) | Q3 2023 EBIT ($M) | Q3 2024 EBIT ($M) |
|---|---|---|---|---|
| Ford Blue | 25,587 | 26,238 | 1,718 | 1,627 |
| Ford Model e | 1,758 | 1,173 | (1,329) | (1,224) |
| Ford Pro | 13,829 | 15,655 | 1,654 | 1,814 |
| Ford Next | (17) | (10) | (17) | (10) |
| Ford Credit | 358 | 544 | 358 | 544 |
Capital Expenditures and Investments
Ford's capital spending for the third quarter of 2024 was $2 billion, reflecting a decrease from $2.2 billion in the previous year. The total capital expenditures for the full year 2024 are projected to be between $8 billion and $8.5 billion.
Electric Vehicle Strategy
As part of its strategic shift toward electric vehicles, Ford has faced challenges. In 2024, the company recorded approximately $1.1 billion in expenses related to the cancellation of a previously planned all-electric three-row SUV. The Ford Model e segment reported a significant EBIT loss of $3.687 billion for the first nine months of 2024.
Market Outlook and Projections
For the full year of 2024, Ford anticipates an adjusted EBIT of approximately $10 billion and adjusted free cash flow of $7.5 billion to $8.5 billion. The company expects to see continued growth in the Ford Pro segment, with EBIT projected at around $9 billion.
Debt and Liquidity
As of September 30, 2024, Ford's total debt was approximately $136.7 billion, with net liquidity reported at $29.6 billion.
Shareholder Returns
In Q3 2024, Ford declared dividends totaling $607 million at a rate of $0.15 per share.
Conclusion on Recent Developments
Ford continues to navigate the evolving automotive landscape, focusing on electric vehicle development while managing operational challenges and market pressures.
A Who Owns Ford Motor Company (F)
Major Shareholders
As of 2024, Ford Motor Company (F) has a diverse ownership structure, with both institutional and individual investors holding significant stakes in the company. The following table summarizes the major shareholders of Ford Motor Company:
| Shareholder | Ownership Percentage | Type of Shareholder |
|---|---|---|
| Vanguard Group Inc. | 7.4% | Institutional Investor |
| BlackRock Inc. | 6.8% | Institutional Investor |
| State Street Corporation | 4.6% | Institutional Investor |
| Ford Family (Class B Stock) | 2.9% | Individual/Family |
| Other Institutional Investors | 32.0% | Institutional Investors |
| Individual Shareholders | 40.0% | Individual Investors |
Class A and Class B Shares
Ford Motor Company has two classes of stock: Class A and Class B. Class B shares carry more voting power compared to Class A shares. The Ford family primarily holds Class B shares, which ensures they maintain significant control over corporate decisions.
Ownership Trends
The ownership landscape of Ford Motor Company has seen changes over recent years. In 2023, institutional holdings represented approximately 50.2% of total shares, which has slightly increased to 51.8% in 2024. This trend indicates a growing interest from institutional investors in Ford's business strategy and future prospects.
Stock Performance
As of the end of Q3 2024, Ford's stock performance has been affected by various market dynamics, including the transition to electric vehicles and ongoing supply chain challenges. The stock price was approximately $13.45 per share, reflecting a year-to-date increase of 5.6%.
Financial Overview
Ford Motor Company reported a net income of $892 million for Q3 2024, down from $1.199 billion in Q3 2023. The adjusted EBIT for the same quarter was $2.55 billion, indicating a solid performance despite market pressures.
Future Outlook
Looking forward, Ford anticipates adjusted EBIT of about $10 billion for the full year 2024, with adjusted free cash flow expected to be between $7.5 billion and $8.5 billion.
Ford Motor Company (F) Mission Statement
Current Mission Statement
As of 2024, Ford Motor Company’s mission statement focuses on delivering a better world through mobility. The company aims to lead in the electric vehicle (EV) market while ensuring sustainable practices and innovative technology integration across all its operations.
Key Components of the Mission Statement
- Commitment to Sustainability: Ford is dedicated to achieving carbon neutrality globally by 2050.
- Transition to Electric Vehicles: The company plans to invest over $50 billion in electric vehicle development through 2026.
- Innovation: Ford aims to enhance its technology capabilities, including software and connectivity, to improve customer experience.
- Community Engagement: The company emphasizes building strong relationships with communities and stakeholders.
Financial Overview
In 2024, Ford Motor Company is positioned to generate significant revenue from its various segments. The following table summarizes the financial performance for the third quarter of 2024:
| Segment | Revenue ($M) | EBIT ($M) | EBIT Margin (%) |
|---|---|---|---|
| Ford Blue | 26,238 | 1,627 | 6.2 |
| Ford Model e | 1,173 | (1,224) | (104.4) |
| Ford Pro | 15,655 | 1,814 | 11.6 |
| Ford Credit | 3,127 | 544 | N/A |
| Total | 46,196 | 2,550 | 5.5 |
Market Position and Strategic Initiatives
Ford is actively pursuing a leadership role in electric vehicles, with plans to increase EV production significantly. The company aims to produce 2 million electric vehicles annually by 2026. Key initiatives include:
- Investment in Battery Technology: Ford is investing in battery plants and partnerships to secure a sustainable supply chain.
- Expansion of EV Model Lineup: The company is expanding its electric vehicle offerings, including the Ford F-150 Lightning and Mustang Mach-E.
- Collaborations: Ford is collaborating with various technology firms to enhance its digital services and connectivity features.
Financial Projections for 2024
The company projects an adjusted EBIT of approximately $10 billion for the full year 2024. The anticipated adjusted free cash flow is expected to be between $7.5 billion and $8.5 billion.
Recent Performance Metrics
In the third quarter of 2024, Ford reported the following key metrics:
| Metric | Q3 2023 | Q3 2024 | Change |
|---|---|---|---|
| Net Income ($M) | 1,199 | 892 | (307) |
| Adjusted Free Cash Flow ($B) | 1.2 | 3.2 | 2.0 |
| EPS (Diluted) | 0.30 | 0.22 | (0.08) |
| Debt ($B) | 122.9 | 136.7 | 13.8 |
| Total Assets ($B) | 268.1 | 287.0 | 18.9 |
Conclusion
The mission statement of Ford Motor Company emphasizes a commitment to sustainability, innovation, and community engagement, with substantial investments in electric vehicles and technology. The company's financial performance reflects both challenges and opportunities in the evolving automotive market.
How Ford Motor Company (F) Works
Overview of Ford Motor Company
Ford Motor Company operates through various segments, including Ford Blue, Ford Model e, Ford Pro, Ford Next, and Ford Credit. As of the third quarter of 2024, the company reported total revenues of $130.2 billion for the first nine months of 2024, with net income of $4.0 billion.
Segment Performance
Ford's performance is categorized into several segments:
| Segment | Q3 2023 EBIT ($M) | Q3 2024 EBIT ($M) | First Nine Months 2023 EBIT ($M) | First Nine Months 2024 EBIT ($M) |
|---|---|---|---|---|
| Ford Blue | 1,718 | 1,627 | 6,649 | 3,703 |
| Ford Model e | (1,329) | (1,224) | (3,131) | (3,687) |
| Ford Pro | 1,654 | 1,814 | 5,411 | 7,386 |
| Ford Next | (17) | (10) | (87) | (32) |
| Ford Credit | 358 | 544 | 1,051 | 1,213 |
Financial Metrics
In the third quarter of 2024, Ford's adjusted EBIT was $2.55 billion, with an adjusted EBIT margin of 5.5%. The following table summarizes key financial metrics:
| Metric | Q3 2023 | Q3 2024 | First Nine Months 2023 | First Nine Months 2024 |
|---|---|---|---|---|
| Net Income ($M) | 1,199 | 892 | 4,873 | 4,055 |
| Adjusted Free Cash Flow ($B) | 1.2 | 3.2 | 4.8 | 5.9 |
| Capital Spending ($B) | 2.2 | 2.0 | 5.9 | 6.1 |
| EPS (Diluted) | 0.30 | 0.22 | 1.21 | 1.01 |
Production and Sales
For the third quarter of 2024, Ford's wholesale units were as follows:
| Segment | Wholesale Units (000) |
|---|---|
| Ford Blue | 721 |
| Ford Model e | 32 |
| Ford Pro | 342 |
In terms of U.S. sales volume, the breakdown for Q3 2024 included:
| Vehicle Type | Sales Volume | Wholesales |
|---|---|---|
| Electric Vehicles | 23,509 | 17,390 |
| Hybrid Vehicles | 48,101 | 54,023 |
| Internal Combustion Vehicles | 432,429 | 455,042 |
| Total Vehicles | 504,039 | 526,455 |
Capital Structure and Debt
As of September 30, 2024, Ford's total debt stood at $136.7 billion, with net liquidity of $29.6 billion. The following table summarizes Ford's liquidity sources:
| Liquidity Source | Amount ($B) |
|---|---|
| Cash | 8.6 |
| Committed Asset-Backed Facilities | 44.6 |
| Other Unsecured Credit Facilities | 1.8 |
| Total Liquidity Sources | 55.0 |
Outlook for 2024
For the full year 2024, Ford expects adjusted EBIT of about $10 billion and adjusted free cash flow of $7.5 billion to $8.5 billion. Segment-specific projections include:
- Ford Pro EBIT of about $9 billion.
- Ford Blue EBIT of about $5 billion.
- Ford Model e EBIT loss of about $5 billion.
- Ford Credit EBT of about $1.6 billion.
How Ford Motor Company (F) Makes Money
Revenue Segments
Ford Motor Company generates its revenue primarily through several key segments: Ford Blue, Ford Model e, Ford Pro, and Ford Credit. Each segment contributes differently to the overall financial performance of the company.
| Segment | Q3 2024 Revenue ($M) | Q3 2023 Revenue ($M) | Change ($M) |
|---|---|---|---|
| Ford Blue | 26,238 | 25,587 | 651 |
| Ford Model e | 1,173 | 1,758 | (585) |
| Ford Pro | 15,655 | 13,829 | 1,826 |
| Ford Credit | 3,127 | 2,625 | 502 |
| Total Revenue | 46,196 | 43,801 | 2,395 |
Ford Blue Segment
Ford Blue focuses on the production and sale of internal combustion engine vehicles. In Q3 2024, this segment generated revenue of $26.2 billion, up from $25.6 billion in Q3 2023. The EBIT for Ford Blue in Q3 2024 was $1.6 billion, with an EBIT margin of 6.2%.
Ford Model e Segment
Ford Model e is dedicated to electric vehicle production. In Q3 2024, it reported revenue of $1.2 billion, a decrease from $1.8 billion in Q3 2023. The EBIT loss for this segment was $1.2 billion, with a negative EBIT margin of 104.4%.
Ford Pro Segment
The Ford Pro segment, which focuses on commercial vehicles and services, achieved revenue of $15.7 billion in Q3 2024, an increase from $13.8 billion in the prior year. Its EBIT was $1.8 billion, resulting in an EBIT margin of 11.6%.
Ford Credit Segment
Ford Credit provides financing solutions to customers and dealers. In Q3 2024, it generated revenue of $3.1 billion, up from $2.6 billion in Q3 2023. This segment's EBIT was $544 million.
Operating Income and Expenses
For Q3 2024, Ford reported total operating income of $880 million, with total costs and expenses amounting to $45.3 billion. The cost of sales was $40.2 billion, while selling, administrative, and other expenses were $2.5 billion.
| Item | Q3 2024 ($M) | Q3 2023 ($M) |
|---|---|---|
| Total Revenue | 46,196 | 43,801 |
| Total Costs and Expenses | 45,316 | 42,672 |
| Operating Income | 880 | 1,129 |
| Net Income | 892 | 1,199 |
Market Dynamics and Challenges
Ford faces significant challenges in the electric vehicle market, including increased competition and pricing pressures. In Q3 2024, Ford recorded expenses of approximately $1.1 billion related to the cancellation of a three-row SUV electric vehicle program.
Financial Outlook for 2024
Ford projects an adjusted EBIT of around $10 billion and adjusted free cash flow between $7.5 billion and $8.5 billion for the full year 2024. The company expects Ford Blue EBIT to be approximately $5 billion and Ford Model e EBIT losses around $5 billion.
Credit Ratings
Ford's credit ratings reflect its financial stability. As of Q3 2024, the ratings are as follows:
| Agency | Long-Term Rating | Outlook |
|---|---|---|
| DBRS | BBB (low) | Stable |
| Fitch | BBB- | Stable |
| Moody’s | Ba1 | Stable |
| S&P | BBB- | Stable |
Conclusion of Financial Position
As of September 30, 2024, Ford's total balance sheet cash, cash equivalents, marketable securities, and restricted cash stood at $37.2 billion. The company maintains a strong liquidity position with total available committed credit lines of $20.2 billion.
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Article updated on 8 Nov 2024
Resources:
- Ford Motor Company (F) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Ford Motor Company (F)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Ford Motor Company (F)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.