Friday, 28 October 2016
Ford’s performance marks time
Ford Motor Company has just produced third-quarter results in which sales (revenue) came out at $35.9 billion giving year-to-date (YTD) sales of $113.1 billion ($109 billion in 2015).
Automotive sector revenue turned in at $33.3 billion, down from $35.8 billion in the same quarter in 2015.
Net income, or profit, is $947 million to give YTD figure of $5.4 billion ($5.5 billion in 2015).
Expenses (costs) amounted to $35.1 billion which totalled to give a YTD figure of $107 billion ($102 billion in 2015).
Ford's global market share of 7.5 percent, slipped one-tenth of a percentage point from a year ago, while the Automotive segment operating cash flow at $(2.0) billion was down from $4.8 billion a year ago.
The Automotive segment’s pre-tax profit at $1.1 billion was down from $1.7 billion. The Automotive segment's operating margin was 3.3 per cent.
Ford demonstrated a strong cash and liquidity position with the Automotive sector showing cash of $24.3 billion and cash net of debt at $11.2 billion. Ford revealed total liquidity standing at $35.2 billion.
In the period, Ford launched the first all-new F-Series Super Duty in 18 years, as well as the flagship Lincoln Continental; Ford also claims to be 'on track' for 12 global product launches in 2016.
Ford in Europe delivered a high spot with a $138 million pre-tax profit, the sixth profitable quarter in a row and the best third-quarter since 2007. Meanwhile, Ford remains Europe’s best-selling commercial vehicle brand.
Ford's Asia Pacific region likewise delivered a high spot of its own with a record third-quarter pre-tax profit of $131 million, up $109 million from a year as ago
Labels: Ford Motor Company