$F · FORD MOTOR CREDIT CO LLC
Ford Motor Company reported Q3 2026 results via an 8-K filing by Ford Motor Credit Company LLC. Revenue was $49.5 billion, down 2% year-over-year, with net income of $2 billion and adjusted EBIT of $2.7 billion. The company raised the low end of its full-year adjusted EBIT guidance to $10.5 billion-$11 billion (from $10 billion-$11 billion) while maintaining adjusted free cash flow guidance of $6 billion-$7 billion.
- Q3 revenue of $49.5B, down 2% YoY; net income of $2B vs $2.4B a year ago.
- Adjusted EBIT of $2.7B, up $0.1B YoY; adjusted EBIT margin improved 0.3 ppts to 5.4%.
- Ford Model e EBIT loss narrowed 25% YoY to -$1.1B; Ford Pro EBIT fell 16% to $1.7B.
- Full-year adjusted EBIT guidance raised at low end: now $10.5B-$11B (was $10B-$11B); adj FCF held at $6B-$7B.
- Ford Credit EBT of $803M, up 27% YoY on favorable derivatives, healthy margins, and supportive used-vehicle pricing.
Extended-hours trading shows shares at $11.70, down 1.93% vs the regular close of $11.93, suggesting the modest guidance raise and mixed segment results underwhelmed after-hours participants.
Ford's guidance raise and Model e loss improvement signal progress on its dual transformation of defending ICE profitability while narrowing EV losses, though after-hours selling suggests the market wanted more.
Ford's results reflect the broader auto industry tension between profitable ICE/hybrid segments (Ford Blue, Ford Pro) and heavy EV investment losses (Model e), with the 8% adjusted EBIT margin target by 2029 serving as the long-term benchmark.
Guidance excludes potential impacts from a significant Middle East conflict escalation or a material U.S. economic downturn, either of which could substantially affect industry demand. Commodity headwinds approaching $2.5B year-over-year remain a drag.