Ford flagged a one-time $1.3 billion tariff benefit in its quarterly results. The announcement comes a day after GM reported a roughly $500 million tariff benefit.
Ford Motor said it expected the federal government to refund $1.3 billion the company paid in tariffs that were later struck down by the Supreme Court.
Ford gets hefty tariff refund and raises outlook for the year.
Ford Motor is set to report first-quarter results after markets close. Wall Street analysts expect adjusted earnings per share of 19 cents and automotive revenue of $38.82 billion.
Ford is set to report Q1 2026 earnings on April 29, with Visible Alpha consensus estimates pointing to modest revenue growth alongside flat volumes and a sharp pullback in electric vehicles. Consensus expectations show automotive revenue to rise 2.3% year-on-year to $38.3 billion in Q1, even as unit sales are expected to hold broadly flat at around 972,000 vehicles. The traditional internal combustion business, Ford Blue, is expected to deliver ~593,000 units, with revenue edging up 2.2% to $21.5 billion.
Ford Motor Co (NYSE:F) stock is up 0.6% at $12.45 at last check, attempting to snap a four-day losing streak.
Ford heads into Q1 earnings under pressure from weak deliveries, EV losses, and supply issues, even as Ford Pro and strong liquidity offer some support.
America's largest automakers are set to report first-quarter earnings results this week. General Motors, Ford and Stellantis are taking three different paths, while the industry faces massive losses from EVs, slowing consumer demand for new vehicles, and rising prices from supply chain issues and the Iran war.
The automakers have discussed a tie-up in Europe, but any U.S. collaboration would be politically fraught.
Ford Motor remains a Hold as electrification and software transitions pose significant execution and financial risks. F's EV ventures, including the Mustang Mach-e and F-150 Lightning, have underperformed, leading to steep losses and writedowns. Despite record revenue, EV-related charges drove a swing from $5.9B net profit in 2024 to an $8.2B net loss for 2025.
In the most recent trading session, Ford Motor Company (F) closed at $12.63, indicating a -1.17% shift from the previous trading day.
Unfortunately for investors, as an earnings report creeps up, it's a reminder that some things out of Ford's control can have a large impact -- it's about understanding it, and anticipating that.