Ford earnings q2 2026: Wall Street expects softer revenue and EPS
Ford reports second-quarter results after Tuesday’s close, with analysts watching margins, truck production and 2026 guidance.
By Maya Okafor · Markets Writer
· 3 min read
Ford earnings q2 2026 land after the market closes Tuesday, giving investors a fresh read on how the automaker is handling lower expected revenue, production snags and rising costs. Analysts tracked by LSEG expect Ford to report adjusted earnings of 35 cents a share and automotive revenue of $45.86 billion, according to CNBC.
Those estimates would put Ford slightly below last year’s second quarter. CNBC reported that the LSEG consensus implies a 2.3% decline in automotive revenue from the year-earlier period and a 2-cent drop in adjusted earnings per share.
Ford’s year-ago quarter included $46.94 billion in automotive revenue, $2.14 billion in adjusted earnings before interest and taxes, and a net loss of $36 million, according to CNBC. Total revenue, which includes the Ford Credit financing business, was $50.18 billion.
What are analysts expecting from Ford earnings?
The two headline numbers are adjusted earnings per share and automotive revenue. Adjusted earnings per share strips out certain items to give investors a cleaner view of ongoing profitability, while automotive revenue focuses on the carmaking business rather than Ford Credit.
- Adjusted earnings per share: 35 cents, based on average analyst estimates compiled by LSEG.
- Automotive revenue: $45.86 billion, based on the same LSEG consensus.
- Earnings call: Ford executives are scheduled to speak with analysts at 5 p.m. ET, according to CNBC.
Investors will also be listening for any update to Ford’s 2026 outlook. In April, Ford raised its guidance after expected tariff refunds, CNBC reported. The company’s forecast calls for adjusted EBIT of $8.5 billion to $10.5 billion, adjusted free cash flow of $5 billion to $6 billion, and capital spending of $9.5 billion to $10.5 billion.
Adjusted EBIT means earnings before interest and taxes, excluding certain items. Free cash flow is the cash a company generates after spending what it needs to maintain and grow the business, a closely watched number because it helps show how much financial flexibility management has.
Why Ford’s truck production is in focus
Ford’s F-Series truck production remains one of the key operating questions around the report. CNBC said output has been constrained since last year because of problems at an aluminum supplier tied to the truck line.
That supplier, Novelis, restarted production last month at a New York facility that supplies Ford’s F-150 program after two fires stopped activity, according to CNBC. A smoother supply flow could help Ford recover truck volume, which matters because pickups are a core profit driver for the company.
Jefferies upgraded Ford and General Motors to buy from hold ahead of Ford’s report, according to CNBC. Jefferies analyst Philippe Houchois wrote that Ford appeared positioned to rebuild momentum, with the second quarter marking a trough, and said management could potentially raise guidance if U.S. market conditions remain healthy.
Costs are another area investors are watching. CNBC said warranty expenses and commodity costs are among the items in focus. Warranty costs can weigh on profit when a carmaker must cover repairs after vehicles are sold, while commodity costs reflect inputs such as metals and other materials used in production.
Ford shares were trading at $14.88, up 1.33%, around 12:10 p.m. ET on Tuesday, according to CNBC market data. The earnings release and call will give investors the next hard numbers on whether Ford’s production recovery and cost controls are keeping pace with expectations.
This story draws on original reporting from CNBC.
