DEARBORN, Mich. (WWJ) -- Ford made $2.5 billion in the first quarter of the year. They were helped by a $1.3 billion refund on tariff payments, but continue to deal with a fire at an aluminum supplier.
Still, Ford saw its revenues rise to $43.3 billion, an increase of six percent from the first quarter of 2025.
“Our strong first-quarter results and raised full-year guidance reflect the momentum of the Ford+ plan,” said Ford President and CEO Jim Farley. “We built the foundation for a more modern, resilient Ford, improving cost and quality and building our world-class team. We are well prepared to deliver for our customers and shareholders as we enter one of the most intensive product, software and physical services rollouts in our history.”
The tariff refund was a help, but Chief Financial Officer Sherry House says it wasn’t the full reason behind Ford’s strong report.
“The rest of the beat came from strong product mix, net pricing, and growth in software and physical services.”
Ford saw pre-tax earnings of $3.5 billion. It also breaks down its divisions in terms of pre tax (or Adjusted EBIT).
The Ford Pro commercial vehicle section, normally the largest contributor to profits earned $1.7 billion, as it was the division most impacted by the aluminum fire. Ford Blue–gasoline powered vehicles–topped the company this time, with a $1.7 billion profit. The electric Model E division narrowed its losses to $777 million.
Ford Credit earned $783 million.
Ford increased its guidance by $500 million, guiding for pre tax earnings in the $8.5 billion to $10 billion range. House says that increase is not related to the tariff refund, but to improvements in the overall business.
Tariffs are expected to cost Ford about $1 billion for the full year 2026.
“Our team is aggressively managing a complex external environment,” said House. “The full set of the remaining tariffs–including section 122, section 301 and the steel and aluminum derivatives–is now built into how we are running the business.”
Ford’s guidance is contingent on no major impacts from the current war in Iran. So, far the only impact has been to compound rising aluminum prices. Rising gasoline prices haven’t impacted sales yet, and that includes expensive pickup trucks.
House says that’s because many of those trucks are used for work.
“For them this is part of their vocation. They need the towing. They need the hauling. So, you’re not seeing as much happening there. Also, a lot of our truck buyers tend to be higher income.”
