Summary by Moomoo AI
Ford Motor Company reported its financial performance for the second quarter ended June 30, 2024, with a net income of $1.83 billion and a diluted earnings per share of $0.46. The company's revenue increased by 6% to $47.8 billion compared to the same period last year. Operating income was $1.88 billion, with an EBIT margin of 3.8%. Ford Blue, the segment focusing on internal combustion and hybrid vehicles, saw a 3% increase in wholesales but experienced a decrease in EBIT to $1.17 billion, attributed to higher warranty and material costs. Ford Model e, dedicated to electric vehicles, reported a loss of $1.14 billion, with a 23% decrease in wholesales due to competitive market conditions. Ford Pro, catering to commercial and government customers, increased its EBIT to $2.56 billion, driven by higher volume...Show More
