Ford Motor Co. posted a $667 million profit on revenue of $40.2 billion in the second quarter, the Dearborn automaker reported Wednesday.
Profits were up roughly 19% from the same period last year, when Ford reported a profit of $561 million on revenue of $26.8 billion.
The automaker reported adjusted earnings before interest and taxes of $3.7 billion, up from $1.1 billion in the second quarter of 2021. Adjusted EBIT margins were up to 9.3% from 3.9%.
Meanwhile, Ford reaffirmed its full-year guidance of $11.5 billion to $12.5 billion in EBIT and adjusted free cash flow of $5.5 billion to $6.5 billion.
“We’re moving with purpose and speed into the most promising period for growth in Ford’s history — to innovate and deliver great products and connected services, raise quality and lower costs,” CEO Jim Farley said in a statement. “We’re giving customers great experiences and value, improving our profitability and making Ford the next-generation transportation leader.”
jgrzelewski@detroitnews.com
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