Daily Management Review

Ford's nine-month net profit rises 3.7 times


U.S. auto giant Ford Motor Co.'s net profit attributable to its parent company was $5.655 billion in January-September 2021, up 3.7 times year-on-year, the company said in a report.

Tony Webster
Tony Webster
Diluted earnings per share were $1.4 for the period, compared to $0.38 a year earlier. The company's revenue rose 8.2 per cent to $98.663 billion.

Ford's third-quarter net income fell 23% year-over-year to $1.832 billion. Diluted earnings per share were $0.45 compared to $0.6 in the third quarter of 2020. The company's quarterly revenue was down 5% to $35.683 billion.

The company notes that the semiconductor shortage remains a "challenge" for Ford, but the July-September situation improved markedly from the second quarter.

Ford shares are up nearly 7% at the close of trading.

Ford was founded in 1903 by Henry Ford, who set it up with $28,000 from five investors to develop the business. The company is known as the first in the world to use the classic car assembly line. The company employs around 191,000 people worldwide.

source: bloomberg.com