Ford Motor Company reports strong 2021 Q1 results

By Georgia Wilson
From protecting, preserving, and recovering, to enhanced, fresh and profitability, Ford Motor Company reports strong 2021 Q1 results...

It is undeniable that 2020 was a challenging year for organisations around the world. For Ford Motor Company, the first quarter (Q1) of 2020 detailed significantly reduced financial results due to the coronavirus pandemic, with its focus primarily on the protection of people, helping society in response, balance-sheet management and operational excellence. 

“Ford people are keeping each other safe, limiting the spread of the virus, safeguarding healthcare workers and first responders, and taking care of customers. The imagination, initiative and execution of our team is helping save lives today, and those qualities will allow Ford to emerge from this as a stronger company,” said Jim Hackett, CEO at Ford. 

Ford Motor Company’s 2020 Q1 results

For the first quarter of 2020, Ford motor company reported a quarterly revenue of US$34bn, with a net loss of US$2.0bn (50% per share), and an adjusted free cash flow of negative US$2.2bn. 

Further reported figures for the first quarter of 2020 included:

  • An adjusted EPS of -US$0.02
  • An adjusted loss before interest and taxes of US$632mn, with estimated negative effects of the virus on adjusted EBIT (earnings before interest and taxes) totaling at least US$2bn
  • A volume-driven Automotive EBIT loss of US$177mn
  • Ford Credit delivered US$30mn before taxes, downUS $771mn year on year

Ford Motor Company 2021 Q1 results: the sunnier side of the road

Experiencing one of its “strongest operating performances in years,” Ford Motor Company’s first quarter worldwide has experienced operating improvements and increased customer receptiveness of new products.

“Our team is relentlessly executing our plan to turn around our automotive business so that we can create and deliver the high-value, always-on experience that our Ford and Lincoln customers deserve. There’s no question we’re becoming a stronger, more resilient company,” said Jim Farley, Ford’s president and CEO. 

Overall, Ford Motor Company’s Q1 for 2021 increased to US$36.2bn (up US$2.2bn compared to 2020). In addition, the automotive manufacturer produced a net income of US$3.3bn (its best since 2011, and a significant increase from its net loss of US$2.0bn in 2020). Ford’s balance sheets also continue to remain strong with its cash flow exceeding US$31bn, and its total liquidity above US$47bn.

Regional breakdown

  • North America: first-quarter revenue increased 5% to US$23.0bn, with its EBIT rising to US$2.9bn
  • South America: while reporting an EBIT loss of US$73mn, the figures show its sixth consecutive quarter of better year on year results
  • Europe: Ford Motor Company generated US$7.1bn in revenue (up 13%) in the region, alongside a US$341mn EBIT(more than reversing its losses a year ago)
  •  China: Ford Motor Company had its best ever Q1 retail sales of its Lincoln-brand vehicles in the region for 2021, its light trucks, vans, buses and pickups accounted for 48% of its sales in China 

To find out more about Ford’s 2021 Q1 results, click here.

For more information on manufacturing topics - please take a look at the latest edition of Manufacturing Global.

Follow us on LinkedIn and Twitter.


Featured Articles

Rise of European Battery Manufacturing for Electric Vehicles

From ACC to Northvolt, European EV battery manufacturing is on the rise, to combat competition in China. Stellantis & Mercedes-Benz are leading the charge

ABB Acquires SEAM Group for Industrial Transformation

ABB & SEAM Group unite for electrification services. Colin Duncan SEAM Group CEO & Pedro Robredo of ABB, are excited to fuse the two businesses together

Politecnico di Milano's AI Model & Manufacturing Leadership

Giovanni Miragliotta, Politecnico di Milano, discusses the AI revolution, Industry 5.0 & why collaboration with universities should be a priority

S&P Global puts Pirelli in top 1% of Sustainable Companies

Sustainability & ESG

The Opportunities of DSP Technology & AI in Manufacturing

Smart Manufacturing

Dr Schär's Sustainable Packaging & Gluten-Free Innovations

Sustainability & ESG