Auto workers take part in a strike outside a Ford assembly plant in the southern suburbs of Chicago, Illinois, the United States, on Sept. 29, 2023. (Photo by Vincent D. Johnson/Xinhua)
Balance sheet of the Dearborn-based automaker remains strong, with more than 29 billion dollars in cash and 51 billion dollars in liquidity at the end of the third quarter, providing important financial flexibility.
CHICAGO, Oct. 26 (Xinhua) -- Ford Motor Co. announced on its website Thursday that it raked in revenue of 44 billion U.S. dollars in the third quarter of this year, up 11 percent year on year.
Net income was 1.2 billion dollars in the third quarter, as against a loss of 827 million dollars a year ago; and adjusted earnings before interest and taxes (EBIT) increased to 2.2 billion dollars.
In the first nine months, Ford earned 9.4 billion dollars in adjusted EBIT.
Ford's cash flow from operations was 4.6 billion dollars in the third quarter and 12.4 billion dollars in the first nine months of this year; adjusted free cash flow was 1.2 billion dollars and 4.8 billion dollars, respectively.
Balance sheet of the Dearborn-based automaker remains strong, with more than 29 billion dollars in cash and 51 billion dollars in liquidity at the end of the third quarter, providing important financial flexibility.
Ford posted U.S. sales gains across its gas, hybrid and electric vehicle lines; widened the lead of F-Series as America's No. 1 truck into the 47th straight year. F-Series was the top-selling brand in the United States in the first nine months of 2023.
Based on strong demand for Ford's products, the U.S. automaker has been poised to deliver profitability this year. But given the effects of the United Auto Workers (UAW) strike and with ratification of the tentative agreement with the union pending, Ford is withdrawing its guidance for full-year 2023 operating results. ■
