Ford earnings: date, guidance and what to watch
Ford's next results are expected on October 28, 2026. Watch whether Ford delivers the second-half cash recovery while handling warranty and legal costs.
What has Ford guided for 2026?
Management’s July 2026 guidance calls for $10–11 billion adjusted EBIT and $6–7 billion adjusted free cash flow. It also calls for $9.5–10.5 billion of capital spending. First-half adjusted free cash flow was only $0.2 billion. Reaching the full-year floor requires $5.8 billion in the second half.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Adjusted EBIT | FY 2026 | 10.0 | 11.0 | Jul 28, 2026 |
| Adjusted Free Cash Flow | FY 2026 | 6.0 | 7.0 | Jul 28, 2026 |
| Capital expenditures | FY 2026 | 9.5 | 10.5 | Jul 28, 2026 |
| Ford Pro EBIT | FY 2026 | 7.0 | 7.5 | Jul 28, 2026 |
| Ford Blue EBIT | FY 2026 | 5.0 | 5.5 | Jul 28, 2026 |
| Ford Model e EBIT loss | FY 2026 | -4.0 | -4.0 | Jul 28, 2026 |
What this means. Ford’s adjusted free cash flow leaves out Ford Credit’s normal cash generation but includes money Ford Credit sends to the rest of Ford, so it is not the whole company’s cash flow.
What do Ford's last eight quarters show?
Revenue fell from the prior-year quarter while operating income improved. Net income worsened because the BlueOval SK disposition charge reached US$3.612 billion. Adjusted EBIT rose to US$2.5 billion, and Ford raised its 2026 guidance. The quarter therefore looked stronger beneath the reported net-loss line.
Quarterly free cash flow remained uneven, reflecting investment and timing as well as profit.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 48,296 | 43,253 | 45,890 | 50,534 | 50,184 | 40,659 | 48,211 | 46,196 |
| Gross margin | 12.6% | 18.4% | -12.5% | 14.1% | 11.8% | 13.5% | 14.3% | 13.0% |
| Operating income | 638 | 2,329 | -11,557 | 1,558 | 511 | 319 | 1,231 | 880 |
| Net income | -1,327 | 2,548 | -11,064 | 2,447 | -36 | 471 | 1,824 | 892 |
| EPS, diluted | -0.33 | 0.63 | -2.77 | 0.60 | -0.01 | 0.12 | 0.45 | 0.22 |
| = Free cash flow | -59 | -4,378 | -3,434 | 3,562 | 1,746 | -2,217 | 121 | 2,236 |
What this means. Ford's reported cash from operations and free cash flow exclude Ford Credit, while the revenue and profit rows include it, so these numbers cover different parts of the company.
What should you watch in Ford's next results?
The decisive milestones are the second-half cash recovery, the handling of warranty and legal costs, and production-qualified Fathom prototypes in the first quarter of 2027. Together they will show whether Ford’s next stage becomes self-funded or makes a larger claim on its balance sheet.