Overview
- Ford reported revenue of $50.5 billion, adjusted EPS of $0.45, and about $2.6 billion in adjusted EBIT, topping estimates despite roughly $700 million in quarterly tariff costs.
- Full-year guidance was lowered to $6.0–$6.5 billion in adjusted EBIT and $2–$3 billion in adjusted free cash flow, with the Novelis disruption expected to be partly offset by about $1 billion in 2026.
- F-150 Lightning assembly remains paused as Ford prioritizes more profitable gas and hybrid F-Series trucks; the Model e unit posted a $1.4 billion Q3 loss, taking year-to-date EV losses above $3.5 billion.
- Ford plans a 2026 recovery, adding a third shift in Dearborn and upgrades in Kentucky to build roughly 45,000–50,000 additional F-Series trucks and redeploy or add about 1,000–1,200 jobs.
- Shares rose roughly 9–10% after the beat and reports that Novelis will restart its Oswego, N.Y., plant this year, and management said recent policy changes should reduce 2025 net tariff exposure to about $1 billion.