Ford earnings Q2 2026: Wall Street braces for softer auto revenue
Ford reports second-quarter results after Tuesday's close, with analysts watching profit, F-Series production and 2026 guidance.
By Sal Moretti · Money Reporter
3 min read
Ford earnings Q2 2026 land after the market closes Tuesday, with Wall Street looking for a modest step down in both profit and automotive revenue from a year earlier.
Analysts surveyed by LSEG expect Ford Motor to post adjusted earnings of 35 cents per share and automotive revenue of $45.86 billion, according to CNBC. That would put automotive revenue 2.3% below the year-ago quarter and adjusted earnings per share 2 cents lower.
Ford executives are scheduled to discuss the results on a conference call at 5 p.m. ET, CNBC reported. Investors will be listening for more than the headline numbers, with costs, production snags and the automaker’s full-year outlook all in focus.
What does Wall Street expect from Ford earnings?
The Street’s baseline is 35 cents in adjusted earnings per share and $45.86 billion in automotive revenue, based on LSEG estimates cited by CNBC. Adjusted earnings strip out certain items to give investors a clearer look at operating performance, though the company’s official results may include other costs or gains.
Ford’s comparison point is a mixed second quarter from 2025. In that period, the automaker reported automotive revenue of $46.94 billion, adjusted earnings before interest and taxes of $2.14 billion and a net loss of $36 million, according to CNBC. Total revenue, including Ford Credit, came in at $50.18 billion.
Any update to Ford’s 2026 guidance could move the stock. The company raised its outlook in April, helped by expected tariff refunds, and projected adjusted EBIT of $8.5 billion to $10.5 billion, adjusted free cash flow of $5 billion to $6 billion and capital spending of $9.5 billion to $10.5 billion, CNBC reported.
Why investors are watching Ford’s truck production
Ford’s F-Series trucks remain a key focus because production has been limited since last year by problems tied to an aluminum supplier, CNBC reported. Investors will be looking for signs that those constraints are easing and that output can recover.
Novelis, the supplier linked to Ford’s F-150 line, restarted work last month at a New York facility after two fires had stopped activity, according to CNBC. That plant supplies aluminum used in the truck line.
Costs are another hot spot. CNBC reported that investors are tracking warranty expenses and commodity costs, two areas that can squeeze margins even when vehicle demand holds up.
Jefferies turns more upbeat on Ford
Heading into the report, Jefferies upgraded both Ford and General Motors to buy from hold, CNBC reported. Analyst Philippe Houchois said Ford appears positioned to rebuild momentum, with the second quarter likely marking a low point.
Houchois wrote that Jefferies sees the second quarter as a bottom for volume, with production after the Novelis disruption expected to return toward normal, according to CNBC. He also said healthy U.S. market conditions could leave room for management to lift guidance when it reports.
Ford shares were shown higher in midday trading Tuesday on CNBC’s quote data, up 20 cents, or 1.33%, at $14.88. The earnings report will test whether that pre-results optimism has enough horsepower behind it.
This story draws on original reporting from CNBC.