Ford reports net income of 3.3 bln USD in Q1

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# 07:52
29 April 2021

Ford Motor Company announced on Wednesday that it realized 4.8 billion U.S. dollars in earnings before interest and taxes, with a net income of 3.3 billion dollars, in the first quarter of this year, APA reports citing Xinhua.

The U.S. automaker's first-quarter earnings before interest and taxes this year posted a dramatic contrast to negative 632 million dollars in the first quarter of 2020, and were also higher than 2.4 billion dollars realized in the first quarter of 2019.

The net income of 3.3 billion dollars was up from negative 2 billion dollars in the first quarter of 2020, and up from a positive 1.1 billion dollars in the first quarter of 2019.

Ford ends the quarter with 31 billion dollars in cash on hand and 47 billion dollars in liquidity.

Ford's earnings before interest and taxes outside North America reached 454 million dollars in the first quarter, up 980 million dollars from a year ago.

Nevertheless, the Dearborn-based automaker warned that serious parts supply problems related to semiconductor chips may cut its planned production by 50 percent in the second quarter.

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