Ford Motor Company (NYSE: F) reported a modest increase in sales for the second quarter of 2024. Meanwhile, adjusted earnings of the car maker declined sharply.
June quarter revenue increased 6% year-over-year to $47.8 billion. The top line benefitted from strong growth in the Ford Blue and Ford Pro divisions. Adjusted earnings declined 35% from last year to $0.47 per share during the three months.
On an unadjusted basis, the company reported a net income of $1.8 billion, or $0.46 per share for Q2, compared to $1.9 billion, or $0.47 per share in, the corresponding quarter of 2023.
“Transparency and accountability from having separate teams focused on the needs of different customers are leading to better decisions and greater value for everyone,” said Ford’s CEO Jim Farley.