US automaker Ford Motor lifts full-year 2026 profit forecast despite quarterly revenue decline and higher net loss.
Second-quarter revenue was $48.29bn, down from $50.18bn in the same period a year earlier.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The company said the decline was due to lower wholesale volumes, driven by discontinued products, aluminium supply shortages and a planned reduction in first-generation electric vehicle output to match demand.
It said a stronger sales mix partly offset the fall. Wholesale unit sales were 1.039 million, down 12% year-on-year (YoY).
Ford reported a net loss of $1.32bn for the quarter, compared with a $29m loss in the same period last year.
The result included $4.2bn in pre-tax special charges, comprising $3.6bn related to the previously disclosed exit from the BlueOval SK battery joint venture and $0.5bn connected to electric vehicle programme cancellations announced in December 2025.
Adjusted earnings before interest and tax (EBIT) increased by $0.4bn YoY to $2.5bn.
Across its business units, Ford Blue recorded EBIT of $1.13bn on revenue of $26.1bn, with both figures rising modestly.
The company attributed this to strong US truck sales and off-road trim variants accounting for close to a quarter of US volumes.
Ford Pro posted EBIT of $1.71bn, down $0.6bn, on revenue of $17.8bn, reflecting continuing aluminium constraints tied to Novelis.
Ford Model e reported an EBIT loss of $919m on revenue of $1bn, marking its third consecutive quarter of YoY improvement.
First-half revenue rose to $91.54bn from $90.84bn a year earlier.
Net income rose to $1.22bn from $444m.
For the full year, Ford raised its adjusted EBIT guidance to $10bn-$11bn from its earlier range of $8.5bn–$10.5bn.
It also increased adjusted free cash flow guidance to $6bn–$7bn from $5bn-$6bn.
This now includes about $500m of an expected 2026 cash recovery from the $1.3bn IEEPA (International Emergency Economic Powers Act) reimbursement booked in the first quarter.
The company also cited expected material and warranty cost savings of around $1bn, offset by a similar level of investment in Universal EV and Ford Energy, along with a roughly $1bn Novelis-related impact weighted toward the second half.
Ford President and CEO Jim Farley said: “We delivered another strong quarter and raised our full-year guidance, but the more important story is the growing evidence that Ford is becoming a more profitable, more disciplined and genuinely different company,”
“Our iconic trucks, off-roaders and hybrids are commanding real pricing power; our quality is now industry-leading in the US; and profitable new adjacencies, such as Ford Energy, are opening fresh sources of growth.”
