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.
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.”
