Ford 2Q net income falls 4.7% as pretax profits drop at combustion engine unit due to warranty costs

Ford Motor Co.’s second-quarter net income fell 4.7% from a year ago as the company’s combustion engine unit saw pretax profits decline due to higher warranty costs. The Dearborn, Michigan, automaker said Wednesday it made $1.83 billion from April through June, compared with $1.92 billion a year ago. Excluding one-time items, Ford made 47 cents per share, short of industry analysts' estimates of 68 cents. The automaker reported $47.8 billion in revenue for the quarter, a 6.3% increase over the $44.95 billion in the second quarter of 2023.Ford’s second quarter sales in the U.S., its most lucrative market, rose just under 1% to more than 532,000.