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Ford Motor Co. reported $4.8 billion in earnings before interest and taxes — with net income of $3.3 billion — for the first three months of this year, a dramatic contrast to one year ago even while challenges lie ahead.
For the first three months of 2020, Ford reported an earnings before interest and taxes loss of $632 million, which was the company's first such quarterly loss since 2009 during the Great Recession. The company saw a net loss of $2 billion a year ago.
However, Ford warned that the next three months will see serious parts supply problems related to semiconductor chips that could cut planned production by 50%. That is expected to seriously bruise second quarter revenues, earnings and cash flow.