FORD MOTOR (F) Company Report

Q4 sales rose 2% to $10.8 billion and Adjusted EBIT increased 18% to $814 million with margin up 100 bps to 7.5%.
Adjusted diluted EPS was $2.18, a 29% increase year-over-year.
Generated $2.0 billion in operating cash flow and $1.3 billion in free cash flow, and raised the quarterly dividend to $0.495 per share.
2026 Outlook: sales of $41.9–$43.5 billion, Adjusted EBIT margin 6.0–6.6%, Adjusted EPS $6.25–$7.25, capital spending $1.5–$1.6 billion, free cash flow $1.6–$1.8 billion, and intent to repurchase remaining ~22 million shares.

3 days ago

Press Release

Ford reports $11.1B Q4 loss and $4.8B EV losses

Earnings

Demand Weakening

Guidance Update

Ford posted a fourth-quarter net loss of $11.1 billion, its largest since 2008.
The company recorded $4.8 billion in EV-related losses in 2025 and forecasts $4–$4.5 billion more EV losses in 2026.
EV demand weakened, with overall EV sales down 14% and F-150 Lightning volume dropping 18.5% to 27,307 units after the federal tax credit expired.
Fourth-quarter revenue reached $45.9 billion, and full-year EBIT was $6.8 billion, narrowly below the revised $7 billion target.
Ford will pause all-electric F-150 Lightning production, shift toward hybrids and lower-cost EVs, and develop a universal EV platform aiming for break-even by 2029.

5 days ago

Fortune

Ford reports record Q4 loss and $2B tariff bill

Earnings

Guidance Update

Ford paid $2 billion in tariffs in 2025 and expects a similar hit in 2026 after a late tariff-relief change cost $900 million in savings.
The company posted a record Q4 loss of $11.1 billion, driven by a $19.5 billion EV charge and supplier-fire costs, while revenue fell about 5% to $45.9 billion.
Q4 adjusted EPS came in at $0.13 versus a $0.18 consensus, and Q4 adjusted EBIT was roughly $1 billion.
Ford projects $8–10 billion in adjusted EBIT for 2026 and said 2025 adjusted EBIT would have been about $7.7 billion absent the tariff-relief change.

6 days ago

WSJ

Ford Motor reports Q4 2025 results

Earnings

Guidance Update

New Projects/Investments

Revenue of $187 billion and $6.8 billion adjusted EBIT in 2025, despite a $4 billion combined tariff and Novelis headwind, driving 42% TSR and 13.2% U.S. market share.
Ford Pro generated $66 billion revenue and $6.8 billion EBIT with double-digit margins, while Model E losses narrowed to $4.8 billion amid 73% EV revenue growth, targeting break-even by 2029.
For 2026, Ford guides to $8 billion–$10 billion adjusted EBIT, $5 billion–$6 billion free cash flow, and $9.5 billion–$10.5 billion capex (including $1.5 billion for Ford Energy), aiming for an 8% EBIT margin by 2029.
Pivoting EV strategy to affordable, high-volume vehicles with a Universal EV Platform launching in 2027, investing heavily in Ford Energy, and bringing electrical architecture in-house to lower costs and expand services.

6 days ago

Transcript

Ford reports Q4 2025 earnings

Earnings

Guidance Update

New Projects/Investments

Ford closed 2025 with $187 billion in revenue, $6.8 billion adjusted EBIT, U.S. share at 13.2%, and 42% TSR.
For 2026, Ford guides to $8–$10 billion adjusted EBIT, $5–$6 billion free cash flow, and $9.5–$10.5 billion CapEx, including $1.5 billion for Ford Energy.
Ford Pro is forecast to deliver $6.5–$7.5 billion EBIT in 2026 with software & services contributing 19% of segment EBIT, while Ford Credit posted $2.6 billion EBT in 2025 and received industrial bank approval.
Model E is expected to incur $4–$4.5 billion losses in 2026, driven by Gen 1 cost savings and Gen 2 launch investments in LFP batteries and the Universal EV Platform, targeting break-even by 2029.
The Ford Plus strategy advances via a cost-efficient Universal EV Platform for high-volume EVs, strategic partnerships with CATL and Renault, and in-house electrical architecture to enhance future profitability.

6 days ago

Transcript

Ford Motor reports Q4 2025 results and 2026 outlook

Earnings

Guidance Update

Ford’s top line grew for a fifth straight year, ending 2025 with $3.5 billion in free cash flow, $29 billion in cash and nearly $50 billion in total liquidity, while U.S. inventory fell 16% to 56 days of supply.
In 2025 Ford Pro generated $66 billion in revenue and $6.8 billion in EBIT, Ford Blue delivered $3 billion in EBIT, Model E revenue and volume rose 73% and 69% respectively with a $4.8 billion loss, and Ford Credit posted $2.6 billion in EBT.
The 2026 outlook includes $8–10 billion in adjusted EBIT, $5–6 billion in free cash flow, and $9.5–10.5 billion in capex (including $1.5 billion for Ford Energy); segment targets are Pro EBIT of $6.5–7.5 billion, Model E losses of $4–4.5 billion, Blue EBIT of $4–4.5 billion, and Credit EBT of ~$2.5 billion.
Strategic priorities emphasize the Universal EV Platform (launching midsize pickup in 2027), scaling Ford Energy, in-house electrical architecture, and partnerships with CATL and Renault, while leveraging off-road/Raptor trims (>20% of U.S. mix) and a sixth consecutive North America Truck of the Year win.

6 days ago

Transcript

Ford reports Q4 2025 results

Earnings

Guidance Update

Fourth-quarter revenue was $45.9 billion (down 5%) and full-year revenue was $187.3 billion (up 1%).
The company posted a fourth-quarter net loss of $11.1 billion with adjusted EBIT of $1.0 billion, and a full-year net loss of $8.2 billion with adjusted EBIT of $6.8 billion.
Fourth-quarter operating cash flow was $3.9 billion with adjusted free cash flow of –$2.1 billion; full-year operating cash flow was $21.3 billion with adjusted free cash flow of $3.5 billion.
2026 guidance includes $8.0 billion to $10.0 billion of adjusted EBIT, $5.0 billion to $6.0 billion of adjusted free cash flow, and $9.5 billion to $10.5 billion of capital spending.

6 days ago

8-K

Ford reports January U.S. sales decline and EV charge absorption

Demand Weakening

Debt Issuance

Ford will absorb $19.5 billion in charges tied to its EV unit as it shifts focus back to gas-powered models.
January U.S. sales fell 5.3% YoY to 135,362 vehicles, with pure EV volumes plunging 69% to 1,743 units and hybrid sales down 6.1% to 12,485 units.
Gas-powered car sales surged 50.4%, offset by declines in SUV and truck volumes, though smaller pickups showed strength.
Analysts highlight financial stress: Ford’s Altman Z-Score at distress levels, ongoing debt issuance, and valuation metrics near one-year highs amid slim margins.

Feb 4, 2026, 5:29 PM

WSJ

Ford faces upgraded NHTSA probe into 1.27M F-150s

Legal Proceedings

NHTSA’s Office of Defects Investigation upgraded its preliminary probe of 2015–2017 Ford F-150 pickups to an engineering analysis, expanding the review to 1,270,970 vehicles after owner complaints about unexpected transmission downshifts.
The investigation covers trucks with Ford’s 6R80 and 10R80 automatic transmissions paired with the 3.5 L Cyclone V6, 2.7 L EcoBoost V6 and 5.0 L Coyote V8 engines.
Preliminary findings point to intermittent loss of the transmission range sensor (TRS) signal—likely from degraded electrical connections—causing sudden downshifts and potential rear-wheel lockup.
The agency has received 329 owner questionnaires and is aware of 999 total incidents (including one crash); 114 owners reported replacing the molded lead frame or valve body assembly.
This probe could lead to recalls or other remedies as Ford’s quality costs rise amid $4.8 billion in 2023 repair spending, ~140 recalls in 2025 and ~35% share of U.S. auto recalls that year.

Feb 2, 2026, 11:33 AM

Morningstar

Ford Motor: Supplier First Brands Founder Indicted in $9B Fraud

Legal Proceedings

Federal prosecutors unsealed a nine-count indictment charging First Brands founder Patrick James and his brother Edward with running a years-long fraud that bilked lenders out of billions before the auto-parts supplier’s Chapter 11 collapse.
First Brands entered bankruptcy with more than $9 billion in liabilities and only $12 million in cash.
Prosecutors allege the brothers used fake and inflated invoices, double- and triple-pledged collateral, falsified financial statements and “round-trip” payments; a former executive has pleaded guilty and is cooperating.
The collapse disrupted supply chains for automakers including Ford and GM and exposed major lenders such as Jefferies and UBS.
A court order allowed First Brands to secure $48 million in prepayments to sustain operations; the company employs about 17,000 workers in North America while some units are winding down.