Ford raised its full-year earnings forecast after reporting stronger-than-expected second-quarter adjusted profit, as resilient demand for its vehicles and operational improvements helped offset tariff-related costs.
Ford's second-quarter adjusted earnings came in at $0.42 per share, beating analysts' expectations. Automotive revenue totaled $44.89 billion, while total revenue, including its financial services business, fell 4 per cent year-on-year to $48.3 billion.
The company said strong U.S. demand and a profitable product mix helped offset the impact of tariffs. Ford's second-quarter core profit rose nearly 20 per cent to $2.5 billion.
Finance chief Sherry House said Ford's operational performance continued to improve. "Our industrial system is getting fitter," House told reporters, adding that customers remained resilient despite broader economic uncertainty.
The automaker lifted its forecast for adjusted earnings before interest and taxes (EBIT) to $10 billion-$11 billion, up from its previous outlook of $8.5 billion-$10.5 billion.
Ford also said tariff costs for the year were now expected to come in slightly below its earlier estimate of about $1 billion, although it did not provide a revised figure.
Ford said it continued to face higher costs after fires at aluminum supplier Novelis forced it to source aluminium elsewhere, although production at Novelis' New York facility resumed in June.
The company said recovery of F-Series pickup production remains on track and is expected to boost adjusted operating profit by around $1 billion in 2026, with most of the gains coming in the second half of the year.
EV strategy unchanged
Ford's U.S. electric vehicle sales dropped 57.4% in the first half of the year, but the company said it still plans to begin production of a $30,000 electric pickup at its Kentucky plant in 2027.
Chief Executive Jim Farley has repeatedly said Ford must improve cost efficiency in its core gasoline-powered truck and SUV business, a goal executives said the latest results show the company is moving closer to achieving.
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Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 9th of August, covering the latest developments.
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