Key TakeawaysFord shares tumbled in premarket trading Thursday after the automaker reported quarterly earnings that came in below expectations and kept its full-year bottom-line outlook unchanged, as warranty costs continued to weigh on the company’s profitability.Since breaking out from a descending channel in late June, Ford shares continued trending higher for several weeks but have undergone a retracement in recent trading sessions leading into the carmaker’s quarterly results.Ford shares could attract ...

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Ford Motor Company (NYSE:F) Q2 2024 Earnings Conference Call July 24, 2024 5:00 PM ET Company Participants Lynn Antipas Tyson - Executive Director of IR Jim Farley - President and CEO John Lawler - Vice Chair and CFO Cathy O'Callaghan - CEO, Ford Credit Conference Call Participants Adam Jonas - Morgan Stanley Bruno Dossena - Wolfe Research John Murphy - Bank of America Dan Levy - Barclays Ryan Brinkman - JPMorgan Operator Good day, everyone. My name is Gary, and I will be your conference operator today. At ...

For the quarter ended June 2024, Ford Motor Company (F) reported revenue of $44.81 billion, up 5.6% over the same period last year. EPS came in at $0.47, compared to $0.72 in the year-ago quarter.The reported revenue represents a surprise of +7.97% over the Zacks Consensus Estimate of $41.5 billion. With the consensus EPS estimate being $0.64, the EPS surprise was -26.56%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street e ...

Financial Performance - Net income for the first half of 2023 was $3,679 million, compared to $3,167 million for the same period in 2024[12]. - Net income for the second quarter of 2023 was $1.917 billion, reflecting a 99% increase compared to the previous quarter[29]. - Net income attributable to Ford Motor Company for the second quarter of 2024 was $1.831 billion, down from $1.917 billion in the second quarter of 2023[43]. - Basic and diluted earnings per share for the first half of 2024 were $3.163, compared to $3.674 in the first half of 2023[43]. - Total comprehensive income for the second quarter of 2023 was $2.016 billion, indicating robust financial performance[29]. - Total revenues for the second quarter of 2024 reached $86.428 billion, with $81.512 billion from the company excluding Ford Credit and $4.916 billion from Ford Credit[31]. - Total revenues for Q2 2024 reached $47.808 billion, a 6.5% increase from $44.954 billion in Q2 2023[158]. - Adjusted EBIT for Q2 2024 was $2,757 million, a decrease of $1,029 million from $3,786 million in Q2 2023, with an adjusted EBIT margin of 5.8%[173]. Assets and Liabilities - Total current assets as of December 31, 2023, were $121,481 million, slightly up from $120,518 million on June 30, 2024[10]. - Total liabilities as of December 31, 2023, were $230,512 million, down from $232,991 million on June 30, 2024[10]. - Total debt for Ford Credit was reported at $129,287 million as of December 31, 2023, slightly decreasing to $130,495 million by June 30, 2024[94]. - Total assets as of Q2 2024 were $276.586 billion, reflecting a significant increase from $265.991 billion in Q2 2023[158]. - Total cash, cash equivalents, and restricted cash decreased from $25,110 million on December 31, 2023, to $20,226 million on June 30, 2024[56]. - Company liquidity, excluding Ford Credit, decreased from $46.4 billion to $44.8 billion during the same period[209]. Cash Flow and Financing - Net cash provided by operating activities for the first half of 2023 was $7,835 million, while it was $6,893 million for the first half of 2024[12]. - Proceeds from the issuance of long-term debt in the first half of 2023 were $26,401 million, compared to $28,960 million in the first half of 2024[12]. - Financing income for the second quarter of 2023 was $1.426 billion, contributing to overall revenue growth[29]. - The company reported a total of $24.862 billion in cash and cash equivalents as of December 31, 2023[46]. - Interest on Debt decreased to $270 million in Q2 2024, down by $34 million year-over-year[204]. Inventory and Production - Inventories as of December 31, 2023, were $15,651 million, decreasing to $17,183 million by June 30, 2024[10]. - Total inventories increased from $15,651 million on December 31, 2023, to $17,183 million on June 30, 2024, primarily due to new vehicle launches[83]. - Finished product inventory increased from $9,455 million on December 31, 2023, to $11,594 million on June 30, 2024[83]. Equity and Dividends - Total equity attributable to Ford Motor Company was $42,773 million as of December 31, 2023, down from $43,567 million on June 30, 2024[10]. - The company declared dividends of $0.80 per share, totaling $3.241 billion for the period[29]. - As of June 30, 2023, total equity was reported at $43.677 billion, with retained earnings of $31.577 billion[29]. Credit Quality and Losses - The provision for credit and insurance losses was $212 million for the first half of 2023, increasing to $317 million in the first half of 2024[12]. - The credit quality analysis for consumer receivables indicated that 98.8% were current, with total past due receivables at $928 million, representing 1.2%[66]. - The allowance for credit losses remained stable at $882 million on December 31, 2023, and $880 million on June 30, 2024[60]. - Net charge-offs increased to $131 million in the second quarter of 2024, compared to $124 million in the previous quarter, reflecting normalization from lower levels post-COVID-19[80]. Strategic Initiatives - The company expects to maintain a strong revenue growth trajectory, with a focus on expanding its electric vehicle offerings[29]. - The company plans to enhance its market presence through strategic partnerships and potential acquisitions in the automotive sector[29]. - The Ford Blue segment focuses on the sale of internal combustion engine and hybrid vehicles, while the Ford Model e segment focuses on electric vehicles[142][143]. - The company continues to review its global businesses for potential additional restructuring actions where sustained profitability is not feasible[111]. Restructuring and Costs - The company recorded costs of $1 billion and $853 million in the first half of 2023 and 2024, respectively, related to employee separations and supplier settlements[111]. - Restructuring costs in Europe for Q2 2024 amounted to $226 million, compared to a loss of $51 million in Q2 2023[167]. - The company estimates incurring about $1 billion in total charges in 2024 primarily due to employee separations and supplier settlements[111]. Warranty and Regulatory Matters - The estimated cost of warranty obligations and field service actions is reported to be up to about $1.3 billion in aggregate[138]. - Payments made during the period for warranty obligations were $2.011 billion in 2023 and $2.862 billion in the first half of 2024[138]. - The ending balance for warranty obligations increased from $9.193 billion in 2023 to $12.553 billion in the first half of 2024[138]. - The estimated aggregate risk for indirect tax and regulatory matters is up to about $0.6 billion[133].

Topic 1: Financial Performance - [Key Point 1] Revenue increased by 15% year-over-year, driven by strong sales in the Asia-Pacific region. [1] - [Key Point 2] Net profit margin improved to 12%, up from 10% in the previous quarter. [2] - [Key Point 3] Operating expenses rose by 8%, primarily due to increased marketing and R&D investments. [3] Topic 2: Market Expansion - [Key Point 1] The company successfully entered three new markets in Europe, contributing to a 20% increase in international sales. [1] - [Key Point 2] A new distribution center was opened in South America to support regional growth. [4] - [Key Point 3] Strategic partnerships were formed with local retailers to enhance market penetration. [2] Topic 3: Product Development - [Key Point 1] Launched two new product lines, which accounted for 25% of total sales in the last quarter. [3] - [Key Point 2] R&D investment increased by 10% to accelerate innovation and product differentiation. [4] - [Key Point 3] Customer feedback on the new products has been overwhelmingly positive, with a 90% satisfaction rate. [1] Topic 4: Operational Efficiency - [Key Point 1] Implemented new supply chain management software, reducing delivery times by 15%. [2] - [Key Point 2] Streamlined manufacturing processes, resulting in a 5% reduction in production costs. [3] - [Key Point 3] Enhanced inventory management systems to minimize stockouts and overstock situations. [4] Topic 5: Sustainability Initiatives - [Key Point 1] Achieved a 30% reduction in carbon emissions through the adoption of renewable energy sources. [1] - [Key Point 2] Introduced eco-friendly packaging for all product lines, reducing plastic usage by 40%. [2] - [Key Point 3] Partnered with environmental organizations to promote sustainable practices across the supply chain. [3]

The Ford display at the New York International Auto Show on March 28, 2024.DETROIT – Ford Motor is set to report second-quarter earnings after the markets close Wednesday.The Detroit automaker's results are expected to be relatively healthy, although down from the second quarter of 2023 and not as strong as its crosstown rival General Motors, which released earnings Tuesday.Here is what Wall Street is expecting, according to average estimates compiled by LSEG:Adjusted earnings per share: 68 centsAutomotive ...

MILTON, Ontario, July 23, 2024 (GLOBE NEWSWIRE) -- As part of its commitment to green initiatives, Milton Hydro Distribution Inc. (Milton Hydro) takes a significant sustainability step forward with the introduction of a Ford F150 Lightning to its fleet. The fully electric pick-up truck joins a Hyundai Ionic and two hybrid bucket trucks and brings many benefits to Milton Hydro's operations, including lower maintenance, reduced idle time and emissions, and cost savings on fuel. With its efficient performance ...

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Ford Motor Company (F) , which belongs to the Zacks Automotive - Domestic industry.This company has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 79.17%.For the last reported quarter, Ford Motor came out with earnings of $0.49 per sh ...

Ford Motor Co F will report second-quarter earnings on Wednesday. Wall Street expects 66 cents in EPS and $44 billion in revenues as the company reports after market hours.The stock is down 0.18% over the past year, but up 14.31%% YTD. Ford stock is dipping Tuesday, alongside General Motors Co GM stock’s decline, following the latter’s Q2 earnings report, delay of its 2024 Buick EV, and postponement of its EV pickup plant opening to 2026.Let’s look at what the charts indicate for Ford stock, and how the sto ...