Ford (NYSE: F) reported Q1 2026 earnings after the market closed, beating high and backside strains resulting from a $1.3 billion one-time tariff refund and enhancements with the Novelis plant restoration.
After reporting that first-quarter automobile gross sales within the US fell 8.8% to 457,315 items, Ford stated robust demand within the 12 months prior, earlier than the Trump Administration’s tariffs took impact, made the comparability troublesome.
Whereas demand stays excessive, based on Ford, F-series truck gross sales dropped 16% in Q1 with manufacturing restricted resulting from final 12 months’s Novelis plant fireplace.
Ford’s electrical automobile gross sales additionally crashed 69% within the first quarter after the corporate discontinued manufacturing of the all-electric F-150 Lightning. Gross sales of the electrical pickup fell 71% in Q1, to only over 2,000 items. The Mustang Mach-E didn’t fare a lot better with simply 4,600 fashions offered within the first quarter, 60% fewer than within the 12 months prior.
In December, Ford stated it expects to e book $19.5 billion in prices from canceled EVs, dissolving its battery three way partnership with SK On, and different main restructuring plans. Nearly all of it got here within the fourth quarter of 2025.
Ford is now betting on smaller, extra reasonably priced EVs primarily based on its Common EV Platform, beginning with a midsize pickup in 2027 that may begin at round $30,000.
Buyers will likely be in search of updates on Ford’s electrical automobile plans, the Novelis plant fires, and the impacts of tariffs.
Based on Estimize, Wall Avenue expects Ford to publish Q1 2026 income of $42.66 billion with an adjusted earnings per share (EPS) of $0.18.
Ford Q1 2026 earnings and monetary breakdown
Ford reported first-quarter income of $43.4 billion, up 6% from the prior 12 months, with an adjusted EPS of $0.66.
Excluding Ford Credit score, automotive income totaled $39.8 billion, whereas the corporate posted an adjusted EBIT of $3.5 billion.
Ford Blue and Professional posted an EBIT of $1.9 billion and $1.7 billion, respectively. Ford’s first-quarter web revenue was $2.5 billion, up from $500 mllion in Q1 2025.
Whereas Ford’s electrical automobile enterprise, Mannequin e, misplaced one other $777 million, it was an enchancment from the $849 million in Q1 2025.
Quantity was additionally up resulting from increased European wholesales. Ford expects Mannequin e to lose round $4 billion to $4.5 billion in 2026 because it invests in its next-gen fashions.
Ford raised its full-year adjusted EBIT steerage to $8.5 billion to $10.5 billion, up from $8 billion to $10 billion, due to a one-time $1.3 billion IEEPA tariff profit and enhancements from the Novelis restoration.
Crosstown rival GM raised its full-year 2026 earnings expectations on Tuesday after successful roughly $500 million from the US Supreme Court docket in a case relating to tariffs underneath the Worldwide Emergency Financial Powers Act (IEEPA) that had been unlawful. GM now expects adjusted earnings of $13.5 billion to $15.5 billion in 2026, up from the earlier $13 billion to $15 billion.
Examine again for extra updates from Ford’s first quarter earnings name. We are going to publish updates beneath.
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