Ford Motor Company Q1 Report 2024

Ford’s first-quarter 2024 operating results provided more evidence that its segmented, customer-centered strategy is delivering growth and profitability, sharpening capital efficiency, and fortifying business durability.

“Customers want vehicles that they’re passionate about, choices in how they’re powered, quality that’s constantly getting better and great value,” said President and CEO Jim Farley. “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.”

Customers Find Appeal in ‘Freedom’ of Ford Powertrain Choices, Contributing to Solid Q1 Results, Setting Up Strong Full Year

Highlights

• Ford reports first-quarter revenue of $42.8 billion, net income of $1.3 billion, and adjusted EBIT of $2.8 billion
• Revenue from Ford Pro commercial customers jumps 36%, EBIT more than doubles, with high demand for Super Duty work trucks, Transit vans and software/physical services
• Ford Blue’s strong global product lineup includes new versions of F-150 and Ranger trucks; hybrid volumes on pace for 40% full-year growth
• Company declares second-quarter regular dividend of 15 cents per share
• Full-year adjusted EBIT tracking to high end of $10 billion to $12 billion; adjusted FCF target raised to $6.5 billion to $7.5 billion; CAPEX guidance tightened to $8 billion to $9 billion