As of 9:15 AM IST, Thursday 29 October 2026. Share moves are from after-hours trading on Wednesday in New York.
Ford beat Wall Street's profit expectations for the third quarter and raised the low end of its full-year guidance, but warned that its electric vehicle unit will lose about $4 billion this year and that rising commodity costs, partly linked to the conflict in the Middle East, are squeezing margins. The Detroit carmaker also said it expects 2027 profit to be roughly in line with 2026. Its shares fell about 1.5% to 2% in after-hours trading.
Third-quarter results
- Adjusted earnings per share: 49 cents, ahead of the LSEG consensus of 40 cents, according to Reuters.
- Adjusted EBIT (core profit): about $2.7 billion ($2.66 billion), ahead of the $2.38 billion Bloomberg consensus, Yahoo Finance reported.
- Revenue: $49.5 billion in total; automotive revenue of $46.1 billion slightly missed estimates.
- Net income: $2 billion.
EV losses continue
Ford's Model e electric vehicle business lost $1.06 billion in the quarter, a little less than the $1.17 billion analysts expected, on revenue of $1.2 billion, which was down 31% from a year earlier. A year ago, US EV sales were boosted by buyers rushing to claim a federal EV tax credit before it expired at the end of the third quarter. Ford expects Model e to lose about $4 billion for the full year, a figure that includes around $1 billion of extra spending on its Universal EV platform and Ford Energy, mostly in the second half.
Commodity costs rise
Ford raised its full-year estimate for commodity costs to nearly $2.5 billion from about $2 billion. Reuters said the company cited several factors, including the conflict in the Middle East, higher copper and steel prices, steeper fuel costs and more expensive chips. CFO Sherry House said Ford expects "significant commodity cost increases going into 2027".
Guidance and trucks
- Full-year adjusted EBIT guidance narrowed to $10.5 billion to $11 billion, from $10 billion to $11 billion.
- Adjusted free cash flow guidance unchanged at $6 billion to $7 billion.
- 2027 core profit expected to be roughly in line with 2026, according to CNBC.
CNBC said Ford is working to restore F-Series pickup production after supplier problems; in September, Ford cancelled production crews at its Dearborn Truck Plant for nearly a week because of what it called "a short-term supplier issue unrelated to aluminum". Third-quarter US sales fell 6.6% to 509,764 vehicles, which Ford blamed on the planned phase-outs of the Escape and Lincoln Corsair, and EV sales plunged 80%, Yahoo Finance reported. Reuters put Ford's US sales down 8.6% for the year through September.
The wider picture
Ford's results follow third-quarter reports from rivals including GM and Tesla. Carmakers are juggling slower EV demand in the US after the end of federal tax credits, higher raw material costs and tariffs, while continuing to invest in cheaper next-generation electric models.
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