F-PB · Ford Motor Company

Ford's Q1 2026 results showed significant improvement with revenue up 6% to $43.3 billion and net income surging to $2.5 billion from $0.5 billion a year ago, driven by a $1.3 billion one-time IEEPA tariff benefit primarily aiding Ford Blue and Pro segments, alongside strong product mix, net pricing, and growth in software/services. Adjusted EBIT reached $3.5 billion (8.1% margin), up from 2.5%, reflecting robust execution. Segment performance varied: Ford Blue delivered $1.9 billion EBIT on $23.9 billion revenue, boosted by F-Series, Bronco, Explorer, and Expedition; Ford Pro achieved $1.7 billion EBIT on $14.7 billion revenue with 30% YoY growth in software subscriptions to 879,000; Model e narrowed losses to $777 million while optimizing vehicles and preparing UEV platform and Ford Energy launches. Ford Credit earnings before taxes rose to $783 million. Balance sheet remains solid with $22 billion cash post-debt repayment and $43.1 billion liquidity; credit facilities renewed at $18 billion. Management raised FY2026 adjusted EBIT guidance to $8.5-$10.5 billion, citing Ford+ plan momentum, cost reductions, Novelis profit recovery, and EV investments, offset by $2 billion commodity headwinds and $1 billion tariffs. CEO Jim Farley highlighted resilience and product rollouts; CFO Sherry House emphasized profit pillars, recurring revenue, and capital discipline. Dividend of 15 cents/share declared, signaling confidence.