Ford Motor Company revealed on Wednesday that its revenue in the fourth quarter of 2024 increased 5% year-on-year, reaching $48.2 billion. Diluted earnings per share (EPS) came in at $0.45, growing from negative $0.13 reported in the same quarter of the year prior. At the same time, net income was $1.8 billion, increasing significantly from the $500 million loss in the corresponding quarter of the previous year.
The American automobile maker reported revenue of $185 billion for the full year 2024, increasing 5% annually. Diluted EPS for the full year stood at $1.46, climbing from $1.08 in 2023. Net income rose 37% to $5.9 billion in 2024, growing from $4.3 billion in the preceding year.
"In 2025, we expect to make significantly more progress on our two biggest areas of opportunity – quality and cost – as we enter the heart of our Ford+ transformation. We control those key profit drivers, and I am confident that we are on the right path to create long-term value for all our stakeholders," President and CEO Jim Farley said.
The auto maker's stock slid 4.80% in the after-hours trade following the report's release.
