Ford Q1 Adjusted EBIT Soars to $3.5B on $1.3B Tariff Refund
Ford’s Q1 adjusted EBIT jumped to $3.5 billion, driven by a $1.3 billion tariff reimbursement and lifting EPS to $0.66, while net income surged to $2.5 billion from $471 million. The company raised full-year adjusted EBIT guidance to $8.5 billion–$10.5 billion (midpoint $9.5 billion), above the $8.9 billion consensus.
1. First-Quarter Results
Ford posted first-quarter revenue of $43.3 billion, a 6% year-on-year increase, with adjusted earnings per share of $0.66 versus $0.19 a year ago, and net income climbing to $2.5 billion from $471 million.
2. One-Time Tariff Reimbursement
A one-time reimbursement of $1.3 billion related to special import tariffs lifted adjusted EBIT by that amount, reflecting tariff payments made between March 2025 and February 2026.
3. Segment Performance
By segment, Ford Pro reported EBIT of $1.7 billion on $14.7 billion revenue (11.4% margin), Ford Blue delivered $1.9 billion EBIT on $23.9 billion revenue, and Model e narrowed its EBIT loss to $777 million from $849 million.
4. Guidance and Outlook
The company raised 2026 full-year adjusted EBIT guidance to a range of $8.5 billion to $10.5 billion (midpoint $9.5 billion versus $8.9 billion consensus), maintained a free cash flow target of $5.0–$6.0 billion, and declared a 15-cent quarterly dividend.