Skip Ribbon Commands
Skip to main content
Ford Posts First Quarter 2014 Pre-Tax Profit of $1.4 Billion, Net Income of $989 Million; Global New Product Launches on Track
DEARBORN ​— Ford Motor Company today reported a 2014 first quarter pre-tax profit of $1.4 billion, its 19th consecutive profitable quarter. The company also affirmed its full-year pre-tax profit guidance of $7 billion to $8 billion as it launches 23 new global vehicles, the most in a single year in its history.

Click here to continue reading.
Related Materials
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  

 Ford Credit Earns First Quarter 2014 Pre-Tax Profit of $499 Million; Net Income of $312 Million

DATE: Will be calculated from "Release Start Date" field.

DEARBORN – Ford Motor Credit Company reported a pre-tax profit of $499 million in the first quarter of 2014, compared with $507 million a year earlier. The change in pre-tax profit was driven by higher volume, reflecting increases in nearly all products globally, largely offset by unfavorable lease residual performance in North America. Ford Credit’s net income was $312 million in the first quarter of 2014, compared with $364 million in the previous year.

“We continue to deliver on the core elements of our Ford support strategy – outstanding products and services, a strong and growing balance sheet and consistent profitability,” said Bernard Silverstone, chairman and chief executive officer.

On March 31, 2014, Ford Credit’s total net receivables were $103 billion, compared with $100 billion at year-end 2013. Managed receivables were $106 billion on March 31, 2014, up from $103 billion on Dec. 31, 2013. On March 31, 2014, managed leverage was 8.6:1, compared with 8.5:1 on Dec. 31, 2013.

Ford Credit now expects full-year pre-tax profit to be about equal to or higher than 2013, reflecting improved financing margin performance. Ford Credit continues to expect managed receivables at year-end of about $110 billion, managed leverage to continue in the range of 8:1 to 9:1, and distributions to its parent of about $250 million.

Click here to view for full press release.

  

By  

 
Yes
Yes
Yes
4/25/2014 7:00 AM