Ford Motor Company reported third quarter 2014 financial results last month, posting a net income of $835 million, or 21 cents per share, on revenue of $34.9 billion. Even though the results represent Ford’s 21st consecutive profitable quarter, they’re down on a year-over-year basis.
Compared to the third quarter of 2013, FoMoCo’s net income dropped $437 million, or 10 cents per share, while revenue dropped $900 million. In fact, most of the automaker’s financial metrics declined on some level. Partly responsible for the drop is the Middle East & Africa division, which was established to facilitate batter customer service and further expand Ford’s presence in the region.
Here’s how Ford Middle East & Africa fared in Q314.
Sales Volume, Revenue
Ford Middle east & Africa wholesale volume was 48,000 units and revenue was $1.1 billion, up 9 percent and 5 percent, respectively.
Ford Middle east & Africa reported a loss of $15 million for the third quarter of 2014, a $10 million improvement from the $25 million loss in the third quarter of 2013.
Ford’s full-year guidance for Middle East & Africa remains unchanged, with the region expected to finish 2014 at about breakeven.