Ford Motor Company announced its fourth-quarter and full-year 2024 financial results.

“Ford is becoming a fundamentally stronger company. We finished 2024 with a solid fourth quarter, capping the highest revenue year in Ford’s history,” said President and CEO Jim Farley. “Our product portfolio offers the broadest powertrain choice. And Ford Pro, with its mid-teen margins, leading market position, and growing service and repair revenue, provides unique advantages for continued growth.”

“In 2025, we expect to make significantly more progress on our two biggest areas of opportunity – quality and cost – as we enter the heart of our Ford+ transformation. We control those key profit drivers, and I am confident that we are on the right path to create long-term value for all our stakeholders.”

Added Sherry House, Ford’s vice president, Finance, and incoming CFO: “The Ford+ plan is built on strong fundamentals and we expect to build momentum and earnings power through 2025. We are remaking Ford into a higher growth, higher margin, more capital efficient and more durable company that is focused on delivering great value to our customers and shareholders.”

The company posted fourth-quarter revenue of $48.2 billion, a $2.2 billion increase from the same period a year ago. Fourth-quarter net income was $1.8 billion; adjusted earnings before interest and taxes was $2.1 billion.

For full-year 2024, revenue climbed 5% to $185 billion; net income was $5.9 billion, and adjusted EBIT was $10.2 billion.

Cash flow from operations in the fourth quarter was $3.0 billion, and adjusted free cash flow was $0.7 billion. For the year, cash flow from operations was $15.4 billion and adjusted free cash flow was $6.7 billion. At year end, Ford had over $28 billion in cash and nearly $47 billion in liquidity, providing the flexibility necessary in a dynamic environment.

Ford Credit reported full-year earnings before taxes (EBT) of $1.7 billion, an increase of $323 million compared to last year.

Ford’s board of directors declared a first-quarter regular dividend of $0.15 per share, plus a supplemental dividend of $0.15 per share, payable on March 3 to shareholders of record on Feb. 18.