Ford posted third-quarter US sales increases in its gas, hybrid and electric vehicle lines; continued the lead of F-Series as America’s No. 1 truck, now in the 47th straight year; and was the top-selling brand in the United States through the first nine months of 2023.

Cash flow from operations was $4.6 billion in Q3 and $12.4 billion through the first nine months of 2023. Adjusted free cash flow for the same periods was $1.2 billion and $4.8 billion, respectively.

Ford’s balance sheet shows more than $29 billion in cash and $51 billion in liquidity at the end of Q3. That included a $4 billion contingent liquidity facility (credit line) that the company secured in August in anticipation of what it called business uncertainties.

In its latest attempt to address dreadful quality and cost issues, Ford last week completed a sequence of organizational changes in support of Ford+, creating an end-to-end global industrial system under, Kumar Galhotra (previously head of Ford Blue, the old internal combustion engine business) who was named chief operating officer.

Ford Credit Q3 earnings before taxes were $358 million, down from a year ago because of lower lease residuals and financing margin, along with a non-recurrence of gains in derivative market valuations.

*Full-Year 2023 Guidance

Through the third quarter, Ford earned $9.4 billion in adjusted EBIT toward the full-year range of $11 billion to $12 billion it affirmed in late July. Based on that and strong demand for Ford’s products, CFO John Lawler said that the company had been poised to deliver profitability within that range. However, given effects of the UAW strike and with ratification of the tentative agreement with the union that was announced Wednesday night pending, Ford withdrew its guidance for full-year 2023 operating results. Ford plans to report fourth-quarter and full-year 2023 financial results on Thursday 1 Feb 2024.