Ford Motor Company (NYSE:F) topped third-quarter earnings expectations as revenue surged, but its electric vehicle division continued to bleed money, prompting a cut to full-year guidance.
Adjusted EPS came in at $0.45 versus the $0.36 estimate, while revenue rose 9% to $50.5 billion, above analyst forecasts of $43.1 billion. Adjusted EBIT was $2.6 billion, flat year-on-year despite $0.7 billion in tariff headwinds.
Ford’s Model e unit saw revenue jump 50% to $1.8 billion but posted a $1.41 billion operating loss, widening from $1.24 billion a year ago.
The EV division has lost $3.6 billion so far in 2025.
Following a supplier fire at Novelis, Ford cut its 2025 adjusted EBIT forecast to $6 billion–$6.5 billion from $6.5 billion–$7.5 billion, and free cash flow to $2 billion–$3 billion from $3.5 billion–$4.5 billion. The company expects a $1.5 billion–$2 billion hit this year, with roughly $1 billion recovery in 2026.
CEO Jim Farley said the company has “made substantial progress minimizing the 2025 impact and will recover production in 2026.”
Ford shares turned positive afterhours, erasing earlier losses of up to 5.6%.