Quick Takeaways
- Ford Q4 2025 earnings show revenue declined 4.8% to USD 45.9 billion with a net loss of USD 11.1 billion.
- Full-year 2025 sales increased 1.2% to USD 187.3 billion despite significant EV asset impairment and tariff pressures.
On February 10, Ford Motor Co. reported its Ford Q4 2025 earnings, highlighting the financial impact of higher tariff costs under President Donald Trump and production challenges caused by a supplier fire that disrupted output of high-margin full-size pickups and SUVs.
For the fourth quarter, revenue declined 4.8% year-over-year to USD 45.9 billion. The company recorded a net loss of USD 11.1 billion, largely reflecting special items, while adjusted EBIT stood at USD 1.0 billion, down 52.4% compared with the same period last year. The quarter underscored margin pressure from external cost burdens and operational setbacks in key product lines.
For full-year 2025, Ford full-year 2025 results showed sales rising 1.2% year-over-year to USD 187.3 billion, compared with USD 185.0 billion in 2024. This marked the fifth consecutive year of annual revenue growth, demonstrating underlying demand resilience despite macroeconomic and supply-side headwinds.
However, profitability deteriorated significantly. Operating loss totaled USD 9.2 billion in 2025, compared with operating income of USD 5.2 billion in 2024. Net loss reached USD 8.2 billion, versus net income of USD 5.9 billion in the previous year, primarily due to an EV asset impairment write-down of USD 9.44 billion. Adjusted EBIT declined 33.3% to USD 6.8 billion from USD 10.2 billion in 2024, reflecting structural cost pressures and EV transition investments.
Ford Pro revenue exceeded USD 66 billion in 2025, generating EBIT of USD 6.8 billion. In the U.S., Transit vans achieved record volumes, while Super Duty pickups posted their strongest sales year since 2004, rising 10%. The commercial vehicle division continued to provide earnings stability amid volatility in other segments.
Ford Model e reported a full-year EBIT loss of USD 4.8 billion, an improvement of USD 0.3 billion compared with 2024. The EV-focused unit remains focused on lowering structural costs and accelerating the rollout of next-generation affordable vehicles, even as EV asset impairment impacts weighed on overall Ford net loss 2025 figures.
Ford Blue delivered USD 3.0 billion in EBIT for 2025, with revenue holding steady at USD 101 billion. Higher pricing and a competitive product portfolio offset a 5% decline in wholesales. In the U.S., F-150 and Maverick ranked as the two best-selling hybrid pickup trucks, Bronco achieved record sales, and Explorer led the three-row SUV segment.
Looking ahead, Ford 2026 outlook guidance projects adjusted EBIT in the range of USD 8.0–10.0 billion. Capital expenditures are expected between USD 9.5 and 10.5 billion, including USD 1.5 billion allocated to initiate the ramp-up of Ford Energy.
At the segment level, 2026 EBIT is forecast at USD 6.5–7.5 billion for Ford Pro, USD 4.0–4.5 billion for Ford Blue, and a projected loss of USD 4.0–4.5 billion for Ford Model e. The outlook signals a continued balancing act between strengthening core combustion and hybrid operations while advancing EV transformation under tighter cost discipline.
For the fourth quarter, revenue declined 4.8% year-over-year to USD 45.9 billion. The company recorded a net loss of USD 11.1 billion, largely reflecting special items, while adjusted EBIT stood at USD 1.0 billion, down 52.4% compared with the same period last year. The quarter underscored margin pressure from external cost burdens and operational setbacks in key product lines.
Ford Full-Year 2025 Results Reflect Mixed Performance
For full-year 2025, Ford full-year 2025 results showed sales rising 1.2% year-over-year to USD 187.3 billion, compared with USD 185.0 billion in 2024. This marked the fifth consecutive year of annual revenue growth, demonstrating underlying demand resilience despite macroeconomic and supply-side headwinds.
However, profitability deteriorated significantly. Operating loss totaled USD 9.2 billion in 2025, compared with operating income of USD 5.2 billion in 2024. Net loss reached USD 8.2 billion, versus net income of USD 5.9 billion in the previous year, primarily due to an EV asset impairment write-down of USD 9.44 billion. Adjusted EBIT declined 33.3% to USD 6.8 billion from USD 10.2 billion in 2024, reflecting structural cost pressures and EV transition investments.
Performance by Business Segment
Ford Pro Delivers Strong Commercial Results
Ford Pro revenue exceeded USD 66 billion in 2025, generating EBIT of USD 6.8 billion. In the U.S., Transit vans achieved record volumes, while Super Duty pickups posted their strongest sales year since 2004, rising 10%. The commercial vehicle division continued to provide earnings stability amid volatility in other segments.
Ford Model e Narrows Losses
Ford Model e reported a full-year EBIT loss of USD 4.8 billion, an improvement of USD 0.3 billion compared with 2024. The EV-focused unit remains focused on lowering structural costs and accelerating the rollout of next-generation affordable vehicles, even as EV asset impairment impacts weighed on overall Ford net loss 2025 figures.
Ford Blue Maintains Profitability
Ford Blue delivered USD 3.0 billion in EBIT for 2025, with revenue holding steady at USD 101 billion. Higher pricing and a competitive product portfolio offset a 5% decline in wholesales. In the U.S., F-150 and Maverick ranked as the two best-selling hybrid pickup trucks, Bronco achieved record sales, and Explorer led the three-row SUV segment.
Ford 2026 Outlook and Capital Allocation
Looking ahead, Ford 2026 outlook guidance projects adjusted EBIT in the range of USD 8.0–10.0 billion. Capital expenditures are expected between USD 9.5 and 10.5 billion, including USD 1.5 billion allocated to initiate the ramp-up of Ford Energy.
At the segment level, 2026 EBIT is forecast at USD 6.5–7.5 billion for Ford Pro, USD 4.0–4.5 billion for Ford Blue, and a projected loss of USD 4.0–4.5 billion for Ford Model e. The outlook signals a continued balancing act between strengthening core combustion and hybrid operations while advancing EV transformation under tighter cost discipline.
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