Ford sales, net profit, adjusted earnings before interest and taxes, cash flow
from operations and adjusted free cash flow had increased significantly from the second to the third quarter of 2021, as semiconductor availability and wholesaling improved
vehicle deliveries increased compared to Q2.

Sales in the third quarter of 35.7 billion US dollars were still slightly below the prior-year quarter (37.5 billion US dollars).

“Semiconductor availability remains a challenge, but has improved significantly from the second quarter, resulting in sequential increases in wholesale shipments and sales of 32% and 33%, respectively,” the automaker said in a statement.

Adjusted EBIT was $ 3 billion ($ 3.6 billion) with an adjusted EBIT margin of 8.4% (9.7%).

The improvement in semiconductor shipments in North America in the third quarter helped increase regional product shipments 67% from Q2 2021 and increase the EBIT margin to 10.1%, a decrease of 2.5 % compared to the previous year.

In the first three quarters of 2021, the EBIT margin in North America was 9% (plus 4.5%) and thus approached the regional target of 10% for the full year 2023.

Ford President and CEO Jim Farley claimed the automaker was “spring-loaded” for growth in North America as semiconductor volume increased 50% to 100,000 for vehicles already on the market, with orders increasing sequentially by 50% , with the exception of the Bronco.

Adjusted EBIT in Europe was a loss of $ 52 million compared to $ 392 million a year ago. Ford said it was working to “achieve an EBIT margin of 6% by 2023”; Q3 fell by 6.9% to minus 0.9%.

China, “moving forward with its own turnaround,” fell from $ 18 million EBIT a year ago to a loss of $ 39 million.

The Ford board of directors voted for the reintroduction of a regular quarterly dividend of 10 cents par shares from the fourth quarter.

Ford said adjusted EBIT expectations for the fourth quarter “are based on an increase in wholesale shipments from the third quarter onwards combined with a continued healthy mix of vehicles sold and net prices and continued strong but sequentially slightly lower results Ford Credit from “.

Ford typically does not and will not issue a financial forecast for the next year in October
so now for 2022.

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Similar title :
Ford: strong Q3, Fiscal year forecast high, dividend back
Ford increases forecast due to improved semiconductor offering.

Ref: https://www.just-auto.com