Ford's 1Q net income falls 24% as combustion engine unit sees sales and revenue decline

Associated PressFILE - A worker walks past neon signs for Ford at the Auto Shanghai 2023 show in Shanghai, Tuesday, April 18, 2023. Ford reports their earnings on Wednesday, April 24, 2024. – Ford Motor Co.'s first-quarter net income fell 24% from a year ago as the company's combustion engine vehicle unit saw revenue and sales decline.

Revenue for the quarter was up 3.2% to $42.78 billion, but that fell short of Wall Street estimates of $42.93 billion. The company held its full-year pretax earnings forecast at $10 billion to $12 billion, but predicted it would be toward the high end of the range.

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Ford's 1Q net income falls 24% as combustion engine unit sees sales and revenue declineFord Motor Co.’s first-quarter net income fell 24% from a year ago as the company’s combustion engine vehicle unit saw revenue and sales decline. The Dearborn, Michigan, automaker said it made $1.33 billion from January through March, compared with $1.76 billion a year earlier.
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Ford's 1Q net income falls 24% as combustion engine unit sees sales and revenue declineFord Motor Co.’s first-quarter net income fell 24% from a year ago as the company’s combustion engine vehicle unit saw revenue and sales decline.
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