Ford Motor Co. raised its full‑year 2026 earnings outlook on Tuesday, setting the new range at $10 billion to $11 billion, up from the prior $8.5 billion to $10.5 billion. The adjustment reflects confidence in robust sales of high‑margin trucks and a rebound from recent aluminum supply constraints.
Quarterly results show mixed performance
For the second quarter, Ford reported a $1.3 billion net loss, largely tied to its retreat from the electric‑vehicle (EV) segment. The loss includes $4.2 billion in charges, among them $500 million from a canceled EV program and $3.6 billion tied to the dissolution of the BlueOval SK battery joint venture.
Despite the loss, the company highlighted a third straight quarter of year‑over‑year profit improvement for its Model e EV business, even though sales fell after the cancellation of the Ford F‑150 Lightning. In the same period, the Bronco family logged its best first half ever, Maverick Hybrid sales reached a record, and premium truck trims such as Tremor and Raptor posted solid numbers.
U.S. retail sales of the Explorer and Expedition models rose more than 20% in the quarter. Tremor‑trimmed Expedition units now account for about 15% of that model’s sales, while Raptor sales are up 9% year‑to‑date, according to Andrew Frick, president of Ford’s Blue gasoline and Model e electric‑vehicle divisions.
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Truck supply and upcoming models
Frick noted that the supply window for the F‑150 has narrowed to 45 days, adding that “that gives us upside coming out, and the demand continues to look really strong.” The automaker is also gearing up for a new $30,000 electric truck slated for production in Kentucky and expected to hit the market in 2027.
CEO Jim Farley pointed to the upcoming vehicle as part of a broader effort to cut costs and improve affordability. He said the truck will compete “in the affordable heart of the U.S. EV market” and will feature a zonal architecture, in‑house ADAS technology, and integrated Apple Maps. “It has more cabin room than a Toyota RAV4. Plus it has a pickup truck bed. It has bidirectional charging capability, incredibly fun to drive, and personalized technology in the experience,” Farley said.
Farley also referenced a recent partnership with China’s Geely, which will see vehicles for both companies built at Ford’s plant in Valencia, Spain. In Canada, Ford committed additional investment to upgrade its Oakville, Ontario facility for Super Duty truck production and secured a new labor agreement with workers at that site.
The company aims to achieve $1 billion in material and warranty cost reductions this year, citing progress through its industrial system and next‑generation products. The first UEV platform truck, to be assembled in Kentucky, is intended to showcase those efficiency gains.
Ford’s subscription services continued to grow.
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Total paid subscriptions rose 50% year over year to 1.6 million in Q2. Over 900,000 of those subscriptions are for Ford Pro Intelligence fleet services, highlighting the firm’s push into recurring‑revenue models.
In a related development, Ford Energy, launched in May, is expanding its battery‑energy‑storage business. The venture repurposes assets from the former BlueOval SK joint venture at the BlueOval City facility in Tennessee, now operated by SK On.
The shift back toward traditional trucks after the EV setbacks mirrors a pattern seen in earlier cycles when automakers re‑balanced portfolios amid market turbulence. The current focus on high‑margin trims and affordable EVs suggests Ford is trying to hedge against future demand swings without overcommitting to any single technology.
Analysts will watch how the new electric truck and the expanded subscription base affect the company’s margins in the coming quarters. For now, the raised guidance signals that management believes the truck segment’s upside can offset recent losses and that cost‑reduction initiatives are on track.
