$F · FORD MOTOR CO
Ford Motor Company reported Q3 2026 financial results via 8-K, posting revenue of $49.5B (down 2% YoY), net income of $2.0B, and adjusted EBIT of $2.7B. The company raised the low end of its full-year adjusted EBIT guidance to $10.5B–$11B from $10B–$11B, while maintaining adjusted free cash flow guidance of $6B–$7B.
- Q3 revenue of $49.5B, down 2% YoY from $50.5B.
- Q3 net income of $2.0B vs $2.4B a year ago; diluted EPS $0.50 vs $0.60.
- Adjusted EBIT of $2.7B, up $0.1B YoY; adjusted EBIT margin improved 30 bps 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 (from $10B–$11B).
Extended-hours trading shows shares at $11.70, down 1.93% from the regular-session close of $11.93, suggesting the market is underwhelmed despite the guidance raise — likely weighed by the 2% revenue decline, Ford Pro EBIT drop, and Model e margin deterioration.
Ford's guidance raise signals confidence in cost discipline, but declining revenue, Ford Pro EBIT compression, and a 1.93% after-hours drop suggest investors are focused on the negatives.
Ford's results reflect the broader auto industry tension between legacy ICE profitability and EV transition costs. The Model e segment's 86.5% negative EBIT margin underscores how far legacy automakers remain from EV profitability even as losses narrow.
Guidance excludes potential impacts from a significant escalation of the Middle East conflict or a material U.S. economic downturn. Commodity headwinds approaching $2.5B year-over-year and $1B in material/warranty cost reduction targets remain key execution risks.