Ford Q1 Revenue Up 6% to $43.3 B, Sees $1.3 B Tariff Refund
Ford reported Q1 revenue rose 6% to $43.3 billion, boosted by a $1.3 billion one-time IEEPA tariff refund, and raised full-year adjusted EBIT guidance to $8.5–10.5 billion despite $2 billion in commodity headwinds. The automaker faces $1.5–2 billion in alternative aluminum sourcing costs after a Novelis plant fire and could incur higher input expenses if US tariffs on European imports are imposed.
1. Q1 Financial Results
Ford posted Q1 revenue of $43.3 billion, a 6% year-over-year increase, and recorded a $1.3 billion one-time IEEPA tariff benefit. The automaker raised its full-year adjusted EBIT guidance to a range of $8.5 billion to $10.5 billion, underscoring resilience in top-line performance despite elevated commodity pressures.
2. Aluminum Supply Challenges
A September fire at Novelis’ New York hot mill halted primary aluminum sheet production, prompting Ford to secure alternatively sourced aluminum at an estimated cost of $1.5 billion to $2 billion. COO Kumar Galhotra expects the hot mill to restart and ramp in May, with contingency plans in place to prevent F-150 production delays.
3. Tariffs and Trade Risks
President Trump’s threat to increase tariffs on European cars and trucks could further strain global supply chains and raise material costs for automakers. Ford will need to monitor evolving trade policy as any new levies may impact input costs, pricing strategies and cross-border part flows.