Ford Reports Record Third Quarter Pre-Tax Profit of $2-7 Billion; Net Income $1-9 Billion1027-4588
OREANDA-NEWS. October 29, 2015. Today, we are announcing our 2015 third quarter financial results. It was another outstanding quarter thanks to the hard work and results by our team around the world.
We set a third-quarter record for pre-tax profit and automotive operating-related cash flow, and it was our best quarter ever in North America and best third quarter since 2011 for Ford Credit. We also have not had a better third quarter in Europe since 2009, and we made improvements in South America.
The company’s third quarter pre-tax profit of \\$2.7 billion was up \\$1.5 billion and more than double a year ago. Net income was \\$1.9 billion – also more than double a year ago – and automotive operating margin grew four points to 6.5 percent. Equally important, we delivered strong top-line growth, with increased wholesale volume and revenue. In addition, we grew our global market share on a year-over-year basis for the third quarter in a row.
For the first nine months of this year, we have made \\$7 billion in profit and \\$5.2 billion in automotive operating-related cash flow. Both are more than we delivered in all of last year.
These results prove that our plan, our people and our processes are delivering. As we continue delivering in the fourth quarter, let’s stay focused on our three priorities:
• Accelerate the pace of progress on our One Ford plan;
• Deliver product excellence with passion, and
• Drive innovation in every part of our business.
You can view our news release here with details on our performance and outlook for the remainder of the year.
We also will discuss our results, accomplishments, challenges and opportunities during today’s Global Town Hall at 7:30 a.m. EDT U.S. (9:30 a.m. S?o Paulo, 12:30 p.m. Cologne, 3:30 p.m. Dubai, 7:30 p.m. Shanghai).
On behalf of the entire leadership team, thank you for all you are doing to help Ford Go Further.
Ford Reports Record Third Quarter Pre-Tax Profit of \\$2.7 Billion; Net Income \\$1.9 Billion
Today, Ford Motor Company reported its 2015 third quarter financial results. The company delivered a record pre-tax profit of \\$2.7 billion, up \\$1.5 billion from a year ago. Ford also posted net income of \\$1.9 billion, up \\$1.1 billion from the same period in 2014. This was the 25th consecutive profitable quarter for the company.
Additionally, Ford reported an Automotive profit of \\$2.2 billion, up \\$1.5 billion from a year ago that was driven by the best quarter ever in North America as well as improvements in Europe and South America.
“The Ford team delivered an outstanding quarter – with record third-quarter profit, best quarter ever for North America, higher wholesales, higher revenue, higher market share and improved margin. We are delivering a breakthrough year,” said Mark Fields, president and CEO, Ford Motor Company.
Click here to view the company’s third quarter 2015 financial release.