Ford Credit Earns Third Quarter 2014 Pre-Tax Profit of $498 Million; Net Income of $718 Million*

DEARBORN, MI -- October 24, 2014: Ford Motor Credit Company reported a pre-tax profit of $498 million in the third quarter of 2014, compared with $427 million a year earlier. The higher pre-tax profit was more than explained by higher volume, reflecting increases in nearly all financing products, including non-consumer and consumer finance receivables globally, as well as leasing in North America. Ford Credit’s net income was $718 million in the third quarter of 2014, compared with $272 million in the previous year. The increase was primarily driven by favorable tax items recorded in the third quarter.

“We continue to provide solid profits and strong support for Ford Motor Company’s growth plans”

“We continue to provide solid profits and strong support for Ford Motor Company’s growth plans,” Chairman and CEO Bernard Silverstone said. “The foundation of our profitability and growth is the consistency and quality in our business fundamentals, including risk standards, portfolio performance and delivery of world-class customer and dealer service.”

On Sept. 30, 2014, Ford Credit’s total net receivables were $106 billion, compared with $100 billion at year-end 2013. Managed receivables were $110 billion on Sept. 30, 2014, up from $103 billion on Dec. 31, 2013. On Sept. 30, 2014, managed leverage was 8.5:1, equal to year-end 2013.

Ford Credit continues to expect full-year pre-tax profit of $1.8 billion to $1.9 billion. Ford Credit’s guidance for year-end managed receivables and managed leverage also is unchanged. Ford Credit now expects distributions to its parent of about $400 million, up from prior guidance of about $250 million, primarily driven by the favorable tax items. For 2015, Ford Credit expects full-year pre-tax profit about equal to or higher than 2014.