Ford (F) Q4 2025 Earnings
GAAP diluted EPS was $(2.77), reflecting $15.5 billion of pre-tax special items, including a $10.7 billion Model e asset impairment and EV program cancellations charge, a $3.2 billion BlueOval SK JV disposition charge, and $0.8 billion for the all-electric three-row SUV program cancellation.
How Did F Stock React to Q4 2025 Earnings?
S&P 500 over the same 30 days: −3.31%.
Did F Beat Earnings? Q4 2025 Results
No. Ford reported Q4 2025 earnings of $0.13 a share on Feb 10, 2026, missing the $0.19 consensus estimate by 32.9%. Revenue was $45.9B against a $41.8B estimate.
Ford Motor delivered a deeply conflicted fourth quarter for 2025, posting adjusted EPS of $0.13 against a $0.19 consensus estimate, a miss of nearly 33%, even as revenue of $45.90 billion cleared expectations by roughly 10% despite falling 4.8% year over year. The headline story was a staggering $15.50 billion in pre-tax special items, led by a $10.70 billion Model e asset impairment and EV program cancellation charge, a $3.20 billion hit tied to the BlueOval SK battery joint venture disposition, and $800 million for the cancelled all-electric three-row SUV program, producing a quarterly GAAP net loss attributable to Ford of $11.06 billion compared with net income of $1.82 billion a year earlier. Underlying operations also softened, with adjusted EBIT roughly halving to $1.03 billion and the adjusted EBIT margin compressing to 2.3% from 4.4%. Ford's stock has held near $14 as investors weigh the restructuring pain against 2026 guidance calling for adjusted EBIT of $8.00 billion to $10.00 billion and adjusted free cash flow of $5.00 billion to $6.00 billion, with management targeting an 8% adjusted EBIT margin by 2029.
- $15.5 billion of Q4 pre-tax special items drove a $11.1 billion quarterly net loss
- $10.7 billion Model e asset impairment and EV program cancellations charge
- $3.2 billion BlueOval SK JV disposition charge
- $0.8 billion Q4 charge for the all-electric three-row SUV program cancellation and resulting actions
- Q4 wholesales down 9% to 1,083 thousand units
- Ford Blue Q4 EBIT fell to $727 million from $1,577 million
- Ford Pro Q4 EBIT fell to $1,231 million from $1,626 million
- Ford Model e Q4 EBIT loss narrowed to $1,218 million from $1,397 million
- Ford Credit full-year EBT of $2.6 billion, up 55%
- Higher pricing and strong product lineup offset a 5% Ford Blue wholesale decline
- Lower material and warranty costs and quality improvements
“Ford delivered a strong 2025 in a dynamic and often volatile environment. We improved our core business and execution, made significant progress in the areas of the business we control – lowering material and warranty costs and making real progress on quality – and made difficult but critical strategic decisions that set us up for a stronger future.”
Ford CEO, on the earnings call
What Was Ford's Outlook in Q4 2025?
For full-year 2026, Ford expects company adjusted EBIT of $8.0 billion to $10.0 billion and adjusted free cash flow of $5.0 billion to $6.0 billion. Capital expenditures are expected at $9.5 billion to $10.5 billion, including around $1.5 billion to begin ramping Ford Energy. Segment EBIT outlook: Ford Pro $6.5 billion to $7.5 billion; Ford Blue $4.0 billion to $4.5 billion; Ford Model e a loss of $4.0 billion to $4.5 billion. Ford Credit EBT is expected at about $2.5 billion. Ford targets an 8% adjusted EBIT margin by 2029 and plans to report first-quarter 2026 results after market close on April 28.
F YoY Financials
| Metric | Q4 2025 | Q4 2024 | Year over year |
|---|---|---|---|
| Revenue | $45.9B | $48.2B | −4.8% |
F Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.