Ford's Q 2 results exceed expectations, raises full-year profit guidance
The company released its second-quarter earnings report on Tuesday, with revenue and profit exceeding Wall Street expectations and raising its full-year financial guidance based on a strong recovery in its core business. Boosted by this, Ford's stock price rose more than 6% in after-hours trading. The financial report showed that Ford's adjusted earnings per share in the second quarter were US$0.42, higher than analysts' expectations of US$0.35; revenue reached US$48.3 billion, also exceeding the expected US$47.51 billion. Although revenue fell 4% from US$50.2 billion in the same period last year, adjusted EBIT increased to US$2.5 billion, a year-on-year increase of 17%. During the reporting period, the company recorded a net loss of US$1.3 billion, mainly due to a non-cash expense of US$3.6 billion related to the disposal of the BlueOval SK battery joint venture. In terms of business segments, the Ford Blue internal combustion engine business EBIT was US$1.1 billion, an increase of US$500 million from the same period last year; the Ford Pro commercial vehicle business EBIT was US$1.7 billion; the electric vehicle business Ford Model e recorded an EBIT loss of US$919 million, but the loss narrowed year-on-year for the third consecutive quarter. Based on its strong performance in the second quarter, Ford raised its full-year 2026 adjusted EBIT guidance to $10 billion to $11 billion from the previous range of $8.5 billion to $10.5 billion, and its free cash flow forecast also increased from $5 billion to $6 billion to $6 billion to $7 billion. "We delivered another strong quarter and raised our full-year guidance, but more importantly, there is growing evidence that Ford is becoming a more profitable, more disciplined and truly differentiated company," said CEO Jim Farley. One of the key factors in the improved performance is the gradual resumption of F-Series pickup production. The previous supply bottleneck caused by the fire at the supplier Novelis aluminum plant is easing, and the company expects to recover approximately US$2.5 billion in lost sales in the second half of the year.