Ford earnings: American giant reports underwhelming numbers, expects better 2026

Ford, one of the biggest names in the automobile business globally, has reported one of its most underwhelming sets of results in nearly four years.In contrast to the 2024 fourth-quarter net gain of $1.8 billion, or 45 cents per share, Ford reported a net loss of $11.1 billion, or $2.77 per share. The company reported earnings of 13 cents per share after deducting the one-time charges.

The company’s 2025 revenue was a record $187.3 billion, up 1% from $185 billion a year earlier. That includes $45.9 billion during the fourth quarter, down 5% from a year before.
Also Read: Honda reports declining profit as Trump’s tariffs and EV moves hurt Japanese automaker’s resultsAs per a CNBC report in 2026, Ford anticipates capital expenditures of $9.5 billion to $10.5 billion, up from $8.8 billion; adjusted EBIT of $8 billion to $10 billion, up from $6.8 billion the previous year; and adjusted free cash flow of $5 billion to $6 billion, up from $3.5 billion in 2025.

According to the company, the modification essentially quadrupled Ford’s tariff burden to $2 billion in 2025, a figure the business anticipates encountering once more this year.

Even though Ford anticipates that demand for high-margin pickups and sport-utility vehicles will help push adjusted earnings before interest and taxes to as much as $10 billion in 2026, reversing a decline last year, the updated tariff outlook shows how the company still faces elevated costs as a result of President Donald Trump’s trade policies.To compensate for supplies affected by last year’s fires at Novelis Inc.’s factory in New York state, Ford will have to buy more aluminium from overseas that is subject to import duties for its best-selling F-Series pickups.

According to House, the firm lost almost $2 billion in F-Series pickup manufacturing last year due to fallout from the incident, and the Novelis factory affected by the flames won’t be able to completely resume production until this summer.

The increased costs coincide with Ford’s anticipation of producing more SUVs and pickups following Republican-led efforts to do away with monetary fines for violating pollution and fuel economy standards. Automakers are able to sell as many high-profit, low-mileage SUVs and pickups as they can produce thanks to the regulatory reprieve.

As for the stock performance, over the past 12 months, the stock has increased by around 47%, outperforming the 14% return of the S&P 500 Index.