TLDR
- Ford hits record $50.5B revenue despite tariff and supply challenges.
- $2.4B net income underscores Ford’s operational strength in Q3 2025.
- Cash flow surges as Ford maintains liquidity above $50B.
- Model e loss offset by Ford Pro and Blue’s steady EBIT performance.
- Ford reaffirms 2025 guidance, tackling Novelis disruption head-on.
Ford Motor Co. closed the third quarter of 2025 with strong financials, reporting record revenue of $50.5 billion. Net income rose to $2.4 billion, and adjusted EBIT remained steady at $2.6 billion despite a $0.7 billion tariff impact. However, shares dipped slightly, closing at $12.34, down 0.72%.
Steady Financials Amid Tariff Challenges
Ford delivered solid results in the face of economic pressures, maintaining operational strength across all segments. Cash flow from operations hit $7.4 billion, while adjusted free cash flow reached $4.3 billion. The company maintained a strong liquidity position with $54 billion available, including nearly $33 billion in cash.
Ford declared a regular fourth-quarter dividend of 15 cents per share, payable on December 1 to shareholders of record as of November 7. Full-year guidance for 2025 includes adjusted EBIT between $6.0 billion and $6.5 billion. The company also expects adjusted free cash flow of $2.0 billion to $3.0 billion and capital spending near $9 billion.
Despite the $1.0 billion tariff headwind in 2025, Ford’s base business performed near the top of prior expectations. The company anticipates another headwind of up to $1.0 billion between 2025 and 2026 from the Novelis plant fire. However, Ford expects to mitigate at least $1.0 billion of that impact by 2026.
Segment Highlights Reflect Mixed Performance
Ford Pro generated $2.0 billion in EBIT from $17.4 billion in revenue during the quarter, reflecting solid commercial operations. The division’s software subscriptions increased to 818,000, representing an 8% sequential rise. This increase strengthens Ford’s ability to serve commercial customers globally through digital platforms.
Model e posted a $1.4 billion EBIT loss, even as new European models contributed to higher volume and revenue. Ford Blue delivered $1.5 billion in EBIT, demonstrating better revenue growth than its wholesale volume. Meanwhile, Ford Credit earned $631 million in the quarter, up 16% year-over-year.
Ford’s segment data reflect strengths in traditional operations while its electric vehicle segment continues to face cost pressures. Management remains focused on optimizing each segment’s contribution to long-term profitability. With disciplined cost controls and strategic execution, Ford aims to improve segment performance further.
Clear 2025 Outlook Despite Novelis Disruption
Ford reaffirmed its full-year 2025 guidance despite operational disruptions from the Novelis fire. The incident is expected to reduce adjusted EBIT by $1.5 billion to $2.0 billion and cut cash flow by $2.0 billion to $3.0 billion. Nevertheless, the company has already taken steps to limit the long-term impact.
Efforts are underway with Novelis to restore aluminum supply through operational sections of the Oswego, New York plant. Ford aims to stabilize the supply chain and recover production losses by 2026. It is actively working with partners to secure alternative sources and mitigate future risk.
Despite external pressures, Ford remains focused on execution, product quality, and operational agility as it heads into 2026. With a record quarter behind it, the company continues to prioritize strategic decisions on propulsion, technology, and global partnerships.
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