Ford Q4 earnings preview: EV losses, F-150 pickup business crucial for investors
- - Ford Q4 earnings preview: EV losses, F-150 pickup business crucial for investors
Pras SubramanianFebruary 9, 2026 at 8:30 PM
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Big Three automaker Ford (F) is on deck to report fourth quarter results Tuesday after the bell, with particular focus on its electric vehicle business and the effects of an aluminum plant fire that impacted Ford’s franchise F-150 sales.
For the quarter, Ford is expected to report revenue of $42.40 billion, per Bloomberg consensus, with adjusted earnings per share (EPS) of $0.19, on adjusted EBIT of $1.16 billion.
Last December, Ford reported a $19.5 billion charge due to a pivot in its EV business. The majority of the special items would be recognized in the fourth quarter ($12.5 billion) and balance ($7.0 billion) hitting in 2026 and 2027.
Inclusive of the $19.5 billion are cash charges of $5.5 billion related to vehicle cancellations and charges, with the majority paid in 2026 and the remainder in 2027.
The asset impairment portion of the write-down is $8 billion, which includes a write-down of EV assets, as well as $6 billion related to restructuring and taking on assets like the Kentucky battery plants from Ford’s battery partner SK On.
The charges come on the heels of softer-than-expected demand for larger EVs and the loss of the federal EV tax credit. Ford, GM (GM), and Stellantis (STLA) have now cumulatively posted $52.1 billion in losses due to their EV game plans backfiring.
Despite this, Ford raised its 2025 adjusted EBIT guidance to about $7 billion, “given continued underlying business strength, including cost improvement,” up from the $6 billion to $6.5 billion range it previously predicted.
Analyst consensus estimates are at $8.86 billion in adjusted EBIT for the year.
Ford also reaffirmed its adjusted free cash flow guidance range, which is at the high end of $2 billion to $3 billion.
Ford Mustang Mach-E vehicles are seen for sale on a dealership lot on June 24, 2025, in Austin, Texas. (Brandon Bell/Getty Images) (Brandon Bell via Getty Images)
Ford had cut its full-year guidance following its Q3 report due to a fire at the Novelis aluminum plant in New York, which impacted production of Ford’s large SUVs and F-150 pickups.
At the time, Ford projected the Novelis "headwind" between 2025 and 2026 to be $1 billion or less.
As part of its Ford+ plan, Ford divided its business into three units: Ford Blue for the traditional gas-powered business, Ford Model e for the electric vehicle division, and Ford Pro for its commercial and super duty truck business. Per Bloomberg, Ford is expected to report the following for Q4:
Ford Blue: $25.02 billion in revenue, $830.7 million in EBIT
Model e: $1.16 billion in revenue, ($1.3 billion) in EBIT loss
Ford Pro: $14.91 billion in revenue, $1.63 billion in EBIT
Despite issues with the EV business and F-150 production, Ford said US sales in Q4 rose 2.7% versus a year ago, powered by truck and hybrid sales. For the year, the company reported a 6% jump in US sales, totaling approximately 2.2 million vehicles. Ford rival GM posted a 5.5% gain in 2025 sales, resulting in 2.853 million vehicles sold, but reported a Q4 sales dip.
Like GM, Ford's EV sales tumbled after the expiration of the federal EV tax credit, with EV sales falling 50%. While GM's Q4 sales slipped due to the credit expiration, Ford was able to report a net gain with sales of its popular hybrid vehicles.
Ford said total hybrid sales hit a record in Q4 and for the year, with 228,072 vehicles sold, a 21.7% gain from a year ago.
Pras Subramanian is Lead Auto Reporter for Yahoo Finance. You can follow him on X and on Instagram.
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Source: “AOL Money”
