NYSE$F
Ford Motor Co · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Ford's Q2 2024 performance highlighted progress on Ford+ plan, strength in Ford Pro, quality improvements, and hybrid growth.
Ford reported Q2 2024 revenue of $47.8 billion, net income of $1.8 billion, and adjusted EBIT of $2.8 billion. Ford Pro's EBIT reached $2.6 billion with a 15% margin. The company raised its adjusted free cash flow outlook for the year by $1 billion.
- Ford Pro's EBIT was $2.6 billion with a 15% margin, driven by a 9% revenue increase.
- Ford Blue hybrid sales increased by 34%, representing nearly 9% of the company’s global vehicle mix.
- Ford Model e costs were reduced by approximately $400 million.
- Ford raised its adjusted free cash flow outlook for 2024 by $1 billion, expecting between $7.5 billion and $8.5 billion.
Headline financials
Revenue & EPS history
Ford · Revenue · Quarterly
$47.8B
Revenue by segment
Ford · $48B total across 4 segments · Q3 2023
- Ford Blue$28.7B—59.7%
- Ford Pro$13.8B+16.0%28.7%
- Ford Model e$2.92B—6.1%
- Ford Credit$2.63B—5.5%
Forward guidance
Ford anticipates a solid full-year 2024 operating performance, with adjusted EBIT between $10 billion and $12 billion, and adjusted free cash flow between $7.5 billion and $8.5 billion.
Tailwinds
- Ford Pro's full-year EBIT outlook is up to $9.0 billion to $10.0 billion due to further growth and favorable product mix.
- Ford is on course for a solid full-year 2024 operating performance.
- Capital expenditures for the year are anticipated to be between $8.0 billion and $9.0 billion.
- Earnings before taxes from Ford Credit are expected to be about $1.5 billion, a double-digit percentage increase from 2023.
- Ford's guidance range for adjusted EBIT remains $10 billion to $12 billion.
Headwinds
- Ford Blue's full-year EBIT outlook is down to $6.0 billion to $6.5 billion, reflecting higher warranty costs than originally planned.
- Ford Model e is expected to have a full-year loss of $5.0 billion to $5.5 billion due to continued pricing pressure and investments in next-generation electric vehicles.
- Profitability was affected by an increase in warranty reserves.
- Ford Model e had an EBIT loss of $1.1 billion amid ongoing industrywide pricing pressure on first-generation electric vehicles and lower wholesales
- Still have lots of work ahead of us to raise quality and reduce costs and complexity
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
-0.9%
Avg return
Earnings day
-1.6%
Avg return
5 days after
-0.1%
Avg return
30 days after
42%
31 / 73 earnings
Positive
+11.6%
Q2 2022
Best reaction
-19.3%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.0% | -4.5% | +42.7% | |
| Q4 2025 | +2.1% | +4.1% | -14.0% | |
| Q3 2025 | +7.5% | +7.3% | +4.0% | |
| Q2 2025 | +1.8% | +1.7% | +8.3% | |
| Q1 2025 | +2.7% | +2.6% | -0.7% | |
| Q4 2024 | -7.5% | -8.0% | -1.1% | |
| Q3 2024 | -6.0% | -7.7% | +0.3% | |
| Q2 2024 | -19.3% | -20.4% | -18.5% | |
| Q1 2024 | +0.8% | -1.5% | -6.0% | |
| Q4 2023 | +10.4% | +9.4% | +7.1% | |
| Q3 2023 | -13.7% | -15.5% | -9.9% | |
| Q2 2023 | -3.0% | -1.8% | -12.9% | |
| Q1 2023 | -2.2% | -0.6% | +0.4% | |
| Q4 2022 | -4.1% | -2.5% | -5.1% | |
| Q3 2022 | +1.3% | +4.2% | +9.7% | |
| Q2 2022 | +11.6% | +22.3% | +22.9% | |
| Q1 2022 | -0.6% | -3.0% | -7.3% | |
| Q4 2021 | -12.9% | -14.1% | -18.3% | |
| Q3 2021 | +5.8% | +12.6% | +23.9% | |
| Q2 2021 | +4.4% | +0.9% | -3.5% | |
| Q1 2021 | -9.8% | -6.9% | +16.3% | |
| Q4 2020 | +2.8% | +6.5% | +9.6% | |
| Q3 2020 | -0.3% | -2.7% | +14.8% | |
| Q2 2020 | -4.5% | -0.9% | +0.3% | |
| Q1 2020 | +1.7% | -4.8% | +13.2% | |
| Q4 2019 | -7.5% | -9.7% | -24.9% | |
| Q3 2019 | -5.2% | -5.1% | -2.0% | |
| Q2 2019 | -6.0% | -5.6% | -13.8% | |
| Q1 2019 | +8.8% | +9.2% | +2.7% | |
| Q4 2018 | +1.2% | -2.9% | -3.4% | |
| Q3 2018 | +4.7% | +8.0% | +6.3% | |
| Q2 2018 | -6.4% | -4.7% | -8.4% | |
| Q1 2018 | +4.3% | +2.6% | +5.0% | |
| Q4 2017 | -3.3% | -9.3% | -18.7% | |
| Q3 2017 | +0.2% | +1.9% | +0.5% | |
| Q2 2017 | -0.8% | -0.4% | -4.0% | |
| Q1 2017 | -1.1% | -5.9% | -5.8% | |
| Q4 2016 | -2.3% | -3.4% | -2.5% | |
| Q3 2016 | -1.3% | -2.3% | +1.3% | |
| Q2 2016 | -8.5% | -13.7% | -10.5% | |
| Q1 2016 | -0.7% | — | — | |
| Q4 2015 | +0.8% | — | — | |
| Q3 2015 | -4.5% | — | — | |
| Q2 2015 | +4.5% | — | — | |
| Q1 2015 | +0.8% | — | — | |
| Q4 2014 | +1.7% | — | — | |
| Q3 2014 | -4.0% | — | — | |
| Q2 2014 | -0.9% | — | — | |
| Q1 2014 | -2.1% | — | — | |
| Q4 2013 | -2.9% | — | — | |
| Q3 2013 | +0.5% | — | — | |
| Q2 2013 | +0.1% | — | — | |
| Q1 2013 | +0.8% | — | — | |
| Q4 2012 | -6.2% | — | — | |
| Q3 2012 | +7.7% | — | — | |
| Q2 2012 | -1.1% | — | — | |
| Q1 2012 | -2.4% | — | — | |
| Q4 2011 | -3.7% | — | — | |
| Q2 2011 | -3.7% | — | — | |
| Q3 2011 | -0.9% | — | — | |
| Q1 2011 | +2.0% | — | — | |
| Q4 2007 | -2.7% | — | — | |
| Q4 2010 | -2.7% | — | — | |
| Q3 2010 | -0.9% | — | — | |
| Q2 2010 | +0.5% | — | — | |
| Q1 2009 | +3.1% | — | — | |
| Q1 2010 | -4.9% | — | — | |
| Q4 2009 | +0.1% | — | — | |
| Q3 2008 | +9.8% | — | — | |
| Q3 2009 | +9.8% | — | — | |
| Q2 2009 | -2.8% | — | — | |
| Q4 2008 | -2.8% | — | — | |
| Q2 2008 | -2.8% | — | — |
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