Ford's profit jumps as automaker powers through an EV slowdown

Dow Jones04:17

MW Ford's profit jumps as automaker powers through an EV slowdown

By Claudia Assis

Ford stock rises more than 4% after hours as carmaker also raises outlook for the year

Ford Broncos at a dealership in Austin, Texas.

Ford Motor late Wednesday handily beat Wall Street's quarterly expectations, thanks in part to a hefty tariff refund, and powered through another loss for its EV business.

The company also raised its outlook for the year, although it said the rosier prospects did not include the potential fallout from "a sustained conflict in the Middle East or a significant downturn in the U.S. economy." The stock $(F)$ gained more than 4% in after-hours trading.

Ford reported a non-GAAP profit of 66 cents a share in the first quarter, nearly four times as much as the FactSet consensus for 18 cents a share, and a jump from 14 cents a share in the year-ago period.

Ford's results included a $1.3 billion one-time tariff refund tied to the Supreme Court's decision to strike some of the Trump administration's tariffs.

Ford's revenue rose 6% to $43.3 billion in the quarter, topping Wall Street's expectations for $42.7 billion, according to FactSet.

Nearly half of Ford's revenue, or some $24 billion, came from its internal-combustion-engine business, which the company calls Ford Blue.

Its EV segment, on the other hand, was another instance of red ink for the company - Ford reported an adjusted loss of $777 million for the segment. The carmaker is working on a new EV platform in hopes of launching cheaper EVs to boost its business.

Ford raised its guidance for 2026 adjusted profit from $8.5 billion to $10.5 billion, up from a previous outlook of $8 billion to $10 billion.

It kept capital expenditures unchanged at between $9.5 billion and $10.5 billion.

GM $(GM)$ earlier this week also raised its outlook for the year, and said it had a tariff refund of about $500 million.

-Claudia Assis

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April 29, 2026 16:17 ET (20:17 GMT)

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Ford's profit jumps as automaker powers through an EV slowdown

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