Ford Raises Low End of 2026 Adjusted EBIT Outlook by $500 Million

Ford Motor Company raised the low end of its 2026 adjusted earnings before interest and taxes (EBIT) outlook by $500 million to $10.5 billion. Its third-quarter adjusted diluted earnings per share was 49 cents.

Ford released results Oct. 28 after U.S. markets closed for the quarter ended Sept. 30. Adjusted diluted EPS was up from 45 cents a year earlier. Revenue totaled $49.526 billion, down from $50.534 billion, while net income fell to $2.049 billion from $2.448 billion. Adjusted EBIT rose to $2.658 billion from $2.586 billion, and its margin widened to 5.4% from 5.1%.

The results followed Ford’s U.S. sales update ahead of the earnings report, which put quarterly U.S. vehicle sales at 509,764, down 6.6% year over year.

A short-term supplier issue affected F-150 production at the end of September. Its expected financial impact was contained within Ford’s then-current 2026 adjusted EBIT outlook of $10 billion to $11 billion.

The new full-year adjusted EBIT range is $10.5 billion to $11 billion. That raises the lower bound by $500 million while leaving the upper bound unchanged from July. The adjusted free cash flow target remains $6 billion to $7 billion, while capital spending guidance stays at $9.5 billion to $10.5 billion.

The outlook assumes year-over-year commodity headwinds approaching $2.5 billion and $1 billion in material and warranty cost reductions. The cost-reduction figure excludes tariffs and Novelis.

Ford Blue generated $1.392 billion in EBIT, down 10% from a year earlier. Ford Pro posted $1.665 billion, down 16%. Ford Model e’s loss narrowed 25% to $1.058 billion.

Operating cash flow declined to $5.427 billion from $7.402 billion. Adjusted free cash flow increased to $4.667 billion from $4.309 billion.

“We are on track to deliver our full-year adjusted EBIT expectations, which include achieving our warranty and material cost reduction objectives and improving year-over-year profitability in Ford Model e,” Ford Chief Financial Officer Sherry House said.