The Dearborn-based automaker raked in 1.8 billion dollars of net income on revenue of 35.7 billion dollars, down roughly 5 percent from the revenue of 37.5 billion dollars in the third quarter last year. The automaker's profit margin for the quarter was 5.1 percent, down from 6.4 percent a year ago.
Ford's adjusted earnings before interest and taxes (EBIT) came at 3 billion dollars in the third quarter, down from 3.6 billion dollars in the third quarter of 2020. The company ended the third quarter with 31.5 billion dollars of cash and 47.4 billion dollars in total liquidity.
Ford generated 2.4 billion dollars in EBIT and hit an EBIT margin of 10.1 percent in North America, but posted EBIT losses in Europe and China.
Ford raised its full-year 2021 adjusted EBIT to be between 10.5 billion dollars and 11.5 billion dollars. There is no change in Ford's guidance for full-year 2021 adjusted free cash flow of 4.0 billion dollars to 5.0 billion dollars.
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