Fourth-quarter revenue increased to $48.2 billion; net income of $1.8 billion; adjusted EBIT of $2.1 billion
Full-year revenue increased to $185 billion; net income of $5.9 billion; adjusted EBIT of $10.2 billion; operating cash flow was $15.4 billion, adjusted free cash flow of $6.7 billion
Company declares first quarter regular and supplemental dividends, each of 15 cents per share, payable March 3 to shareholders of record on Feb. 18
Outlook for full-year 2025 includes adjusted EBIT of $7.0 billion to $8.5 billion, adjusted FCF of $3.5 billion to $4.5 billion, and capital spending of $8 billion to $9 billion.
Cash flow from operations in the fourth quarter was $3.0 billion, and adjusted free cash flow was $0.7 billion. For the year, cash flow from operations was $15.4 billion and adjusted free cash flow was $6.7 billion. At year end, Ford had over $28 billion in cash and nearly $47 billion in liquidity, providing the flexibility necessary in a dynamic environment.
Ford’s board of directors today declared a first-quarter regular dividend of $0.15 per share, plus a supplemental dividend of $0.15 per share, payable on March 3 to shareholders of record on Feb. 18.
In 2024, Ford Blue’s revenue was flat at $101.9 billion as positive net pricing offset a 2% decline in wholesales driven by the discontinuation of low-margin products. Segment EBIT was $5.3 billion.
Ford Model e reported a full-year EBIT loss of $5.1 billion, as the company continues to invest in future products. The segment delivered $1.4 billion in cost improvements, net of a $100 million increase in spending to launch new battery plants and next-generation electric vehicles.
Ford Pro generated $9.0 billion in EBIT – a margin of 13.5%, in line with its target of mid-teens.
Revenue increased 15% year-over-year to $66.9 billion. Paid software subscriptions increased 27% in 2024 to nearly 650,000 subscribers utilizing new solutions to boost the productivity of their fleets. Telematics grew nearly 100%.
Full-Year 2025 Outlook
Ford anticipates full-year adjusted EBIT of $7.0 billion to $8.5 billion and to generate $3.5 billion to $4.5 billion in adjusted free cash flow, with capital expenditures of $8.0 billion to $9.0 billion.
The guidance presumes headwinds related to market factors.
The company expects first quarter 2025 adjusted EBIT to be roughly breakeven due to lower
wholesales and unfavorable mix, including launch activity at major U.S. assembly plants, including Kentucky Truck and Michigan Assembly Plants.
At a segment level, the outlook is for full-year 2025 EBIT of $7.5 billion to $8.0 billion from Ford Pro and $3.5 billion to $4.0 billion from Ford Blue; an EBIT loss of $5.0 billion to $5.5 billion for Ford Model e; and earnings before taxes of about $2.0 billion from Ford Credit.
Ford plans to report first-quarter 2025 financial results after the close of market on Monday, April 28.
Ford Credit reported full-year earnings before taxes (EBT) of $1.7 billion, an increase of $323 million compared to last year. Read More
