Ford reported second-quarter 2026 results with revenue of $48.3 billion and a GAAP net loss of $1.3 billion, while adjusted EBIT rose to $2.5 billion. The quarter included a $3.6 billion largely non-cash special charge related to the disposition of the BlueOval SK joint venture and $0.5 billion of EV program cancellation charges. Management raised full-year adjusted EBIT and adjusted free cash flow guidance and declared a regular Q3 dividend of $0.15 per share.

Financial Highlights

  • Revenue: $48.3 billion for Q2 2026 (down $1.9 billion year-over-year).
  • Net income/(loss): GAAP net loss of $1.3 billion for Q2 2026 (includes $4.2 billion pre-tax special items).
  • Adjusted EBIT (Non-GAAP): $2.5 billion for Q2 2026, up $0.4 billion year-over-year; adjusted EBIT margin 5.2%.
  • Adjusted diluted EPS (Non-GAAP): $0.42 for Q2 2026 (compared with $0.37 in Q2 2025).
  • Operating cash flow: $4.3 billion for the quarter; Company adjusted free cash flow (Non-GAAP) of $2.1 billion.

Business Highlights

  • Ford Blue: Reported $1.1 billion of EBIT on $26.1 billion of revenue; off-road trims accounted for nearly a quarter of U.S. sales and strong truck pricing continued to support margins.
  • Ford Pro: Generated $1.7 billion of EBIT on $17.8 billion of revenue, recovering from Novelis-related aluminum supply constraints that impacted year-over-year results.
  • Ford Model e: Wholesales and revenue declined as Gen-1 EV volumes were right-sized to demand; reported an EBIT loss of $919 million on $1.0 billion of revenue, marking the third consecutive quarter of year-over-year EBIT improvement.
  • Ford Credit: Reported earnings before taxes above $757 million for the quarter, reflecting strong financing margins and a high-quality portfolio; Ford Credit distributions supported consolidated cash flow.
  • Operational actions: Continued program rationalizations (including EV program cancellations) and the announced BOSK JV disposition impacted reported GAAP results but are part of the company’s strategic repositioning.

Original SEC Filing:

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