Ford Half-Year Report 2024

President and CEO Jim Farley said those are second-quarter outcomes resulting from further execution of the customer-centered Ford+ plan – with disciplined capital allocation setting the table for profitable long-term growth by a more strategically and financially durable company.

“Ford+ is on track, our underlying quality is improving, and Ford Pro is showing the huge upside we’ve got in all our businesses,” Farley said. “Transparency and accountability from having separate teams focused on the needs of different customers are leading to better decisions and greater value for everyone.”

Highlights

• Ford reports second-quarter revenue of $47.8 billion, net income of $1.8 billion and adjusted EBIT of $2.8 billion
• Ford Pro posts quarterly EBIT of $2.6 billion – a 15% margin – on 9% revenue gain; customers buying every Super Duty truck and Transit van the company can make
• Ford Blue hybrid sales up 34%, represent nearly 9% of company’s global vehicle mix; Ford Model e costs down ~$400 million
• Expectations for full-year 2024 adjusted EBIT unchanged at $10 billion to $12 billion; adjusted free cash flow outlook raised $1 billion, to between $7.5 billion and $8.5 billion