Ford Motor Company
Q3 2025 Earnings
Market Reaction
S&P 500 over the same 30 days: −0.33%.
Did F Beat Earnings? Q3 2025 Results
Ford Motor Company delivered a standout third quarter, posting adjusted EPS of $0.45 against a Wall Street consensus of $0.3588 — a 25.42% beat — while revenue of $50.53 billion ran 15.21% ahead of estimates and grew 9.4% year-over-year, marking a record quarter for the automaker. The primary engine behind the outperformance was Ford Pro, its commercial vehicle segment, which generated $1.99 billion in EBIT on $17.40 billion in revenue as wholesale volumes climbed 6% to 1,156,000 units. Even with an approximately $700 million net tariff headwind absorbed in the quarter, adjusted EBIT came in at $2.59 billion, while net income surged to $2.45 billion from $896 million a year earlier. <a href="https://247wallst.com/investing/2025/10/23/ford-a-stronger-and-more-agile-company-as-shares-pop-higher/">shares moved sharply higher</a> on the results, though the road ahead carries real complexity: a fire at a Novelis aluminum plant is expected to create a combined 2025–2026 EBIT headwind of $1 billion or less, prompting Ford to revise full-year 2025 adjusted EBIT guidance to $6.00–$6.50 billion and adjusted free cash flow to $2.00–$3.00 billion.
- Record revenue of $50.5 billion driven by 6% increase in wholesale units
- Ford Pro durability with $2 billion EBIT and 11.4% margin
- Ford Pro software subscriptions growing 8% sequentially to 818,000
- Ford Blue revenue growth exceeding wholesale unit growth rate
- Ford Model e volume growth of 57% with new European products
- Ford Credit EBT up 16% year-over-year to $631 million
“Ford posted another strong quarter, delivering more than $50 billion in revenue powered by our incredible products and services, the durability of Ford Pro and our disciplined focus on cost and quality. We are heading into 2026 as a stronger and more agile company. We will continue to focus on execution and on quickly making the right strategic calls on propulsion, partnerships and technology that will create tremendous value for our customers.”
Ford CEO, on the earnings call
Forward Guidance & Outlook
Ford's underlying business is performing at the high end of the guidance range previously outlined in February, while absorbing a $1.0 billion net tariff headwind. Full-year 2025 guidance includes adjusted EBIT of $6.0 billion to $6.5 billion, adjusted free cash flow of $2.0 billion to $3.0 billion, and capital expenditures of about $9 billion. Between 2025 and 2026, the Novelis fire is expected to be a headwind of $1.0 billion or less. For 2025 specifically, the Novelis-related adjusted EBIT headwind is $1.5 billion to $2.0 billion with an adjusted free cash flow headwind of about $2 billion to $3 billion in Q4. Ford expects to mitigate at least $1.0 billion of the Novelis-related adjusted EBIT headwind in 2026. Ford announced plans to create up to 1,000 jobs to increase F-Series production volume to recover losses due to the Novelis fire and fulfill strong customer demand.
F YoY Financials
F Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.