Ford Motor Company
Q1 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: +6.60%.
Did F Beat Earnings? Q1 2026 Results
Ford Motor Company posted a sharply stronger first quarter of 2026, with earnings of $0.66 per share and revenue climbing 6% to $43.25 billion, as a $1.30 billion one-time IEEPA tariff benefit, favorable product mix, and gains in software and services combined to lift adjusted EBIT to $3.49 billion, a $2.50 billion improvement from the year-ago period. Net income reached $2.55 billion, compared to $471.00 million a year earlier, with the Ford Blue segment leading the way at $1.94 billion in EBIT on $23.90 billion in revenue, driven by strong F-Series, Bronco, Explorer, and Expedition demand. Ford Pro contributed $1.69 billion in EBIT with margins expanding to 11.4%, while Model e narrowed its losses to $777.00 million. Encouraged by the quarter's performance, Ford raised its full-year adjusted EBIT guidance to $8.50 billion to $10.50 billion and now expects adjusted free cash flow of $5.00 billion to $6.00 billion, even as commodity headwinds of roughly $2.00 billion and continued Model e investment weigh on the outlook.
- $1.3 billion one-time IEEPA tariff benefit reflecting amounts paid between March 2025 and February 2026
- Strong product mix and net pricing
- Growth in software and physical services
- Continued strength of F-Series, Bronco, and double-digit growth in Explorer and Expedition sales
- Ford Pro paid software subscriptions grew 30% year-over-year to 879,000
- Ford Credit healthy financing margins and high-quality book of business
- Off-road performance trims account for nearly a quarter of U.S. sales
“Our strong first-quarter results and raised full-year guidance reflect the momentum of the Ford+ plan. We built the foundation for a more modern, resilient Ford, improving cost and quality and building our world-class team. We are well-prepared to deliver for our customers and shareholders as we enter one of the most intensive product, software and physical services rollouts in our history.”
Ford CEO, on the earnings call
Forward Guidance & Outlook
Ford raised its full-year 2026 adjusted EBIT guidance to $8.5 billion to $10.5 billion (from $8.0 billion to $10.0 billion). The company expects adjusted free cash flow of $5.0 billion to $6.0 billion and capital expenditures of $9.5 billion to $10.5 billion, including $1.5 billion for Ford Energy. Segment outlooks: Ford Pro EBIT of $6.5 billion to $7.5 billion; Ford Blue EBIT raised to $4.5 billion to $5.0 billion (from $4.0 billion to $4.5 billion); Model e losses of $4.0 billion to $4.5 billion; Ford Credit EBT of about $2.5 billion. Assumptions include a U.S. SAAR of 16.0 million to 16.5 million, flat industry pricing, a $1.3 billion one-time IEEPA tariff benefit, net $1 billion Novelis recovery improvement in the second half, commodity headwinds of about $2 billion (up $1 billion from prior estimate), tariff impacts of about $1 billion (excluding IEEPA benefit and Novelis), on-track $1 billion in material and warranty cost reductions, and about $1 billion incremental investment in Model e. Guidance excludes potential impacts of a sustained Middle East conflict or significant U.S. economic downturn.
F YoY Financials
F Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.