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AI Takeaway
In 2026-Q2, Ford Motor Company reported revenues of $48.30B and an operating profit of $638M, but recorded a net loss attributable to the company of $1.33B primarily due to $2.76B in equity losses and non-cash charges from affiliated joint ventures.
Filed · Source: SEC EDGAR 10-Q filing
Ford's 2026-Q2 revenue declined 3.8% YoY to $48.30B, while a $2.76B affiliate equity charge pushed net results to a $(1.33B) loss despite $638M in operating income.
Last 4 quarters: 3 beats, 1 miss
Reported EPS of $0.42 versus the $0.31 analyst consensus — a +36.5% beat for Jun 2026.
Total consolidated revenue reached $48.30B in 2026-Q2, declining 3.8% YoY from $50.18B. Automotive and other sales excluding Ford Credit dropped to $44.89B from $46.94B, while Ford Credit financing revenue increased to $3.41B from $3.24B.
Source: 10-Q Item 1 Note 3, p.9
Equity in net losses of affiliated companies widened dramatically to $(2.76B) in 2026-Q2 from $(250M) in 2025-Q2, driven by $2.93B of non-cash charges related to the disposition of investment in BOSK, pulling net income into negative territory.
Source: 10-Q Item 1 Consolidated Income Statements, p.3
Operating cash flow for the first half of 2026 totaled $5.66B, down from $10.00B in 1H 2025. Capital spending increased to $4.76B compared to $3.91B in 1H 2025, resulting in first-half free cash flow of $903M.
Source: 10-Q Item 1 Consolidated Statements of Cash Flows, p.5
Ford closed 2026-Q2 with $18.60B in cash and cash equivalents and $12.73B in marketable securities, providing total company liquidity excluding credit facilities of over $31.33B.
Source: 10-Q Item 1 Note 7, p.12
Ford incurred a $2.76B loss from affiliated companies in 2026-Q2 due to restructuring and non-cash charges in battery and joint venture entities like BOSK. Strategic realignment or further operational underperformance in global partnerships could trigger additional earnings drag.
Source: 10-Q Consolidated Income Statements
Ford holds $160.97B in total debt as of June 30, 2026, including $137.35B at Ford Credit and $23.62B in corporate debt. High debt levels subject the firm to refinancing risks and substantial interest expenses during high rate environments.
Source: 10-Q Consolidated Balance Sheets
First-half operating cash flow decreased 43.4% YoY to $5.66B while capital spending expanded 21.8% to $4.76B. Sustained capital intensity alongside moderating operational cash flow could restrict future financial flexibility and dividend liquidity.
Source: 10-Q Consolidated Statements of Cash Flows
This analysis does not extract a guidance section. Companies issue revenue and EPS outlook in the 8-K press release and on the earnings call rather than in the 10-Q itself — though the filing's management discussion can contain forward-looking statements, which appear in the highlights above where they were material.
See the F earnings preview — expected date, analyst estimates and what to watch →
Ford generated $48.30B in total revenue in 2026-Q2, a 3.8% decline from $50.18B in 2025-Q2. The company recorded an operating income of $638M, but posted a net loss attributable to Ford of $1.33B, resulting in a diluted EPS of $(0.33).
Ford's net loss of $1.33B was driven by $2.76B in equity losses from affiliated companies in 2026-Q2. This included $2.93B in non-cash charges related to the disposition of its investment in the BOSK joint venture.
As of June 30, 2026, Ford held $18.60B in cash and cash equivalents and $12.73B in marketable securities. Total debt was $160.97B, consisting of $23.62B in corporate debt and $137.35B in Ford Credit debt.
In the first half of 2026, Ford generated $5.66B in operating cash flow and spent $4.76B on capital expenditures, yielding a free cash flow of $903M compared to $6.09B in 1H 2025.
Expected release date, analyst estimates & what to watch
Ford Motor Company delivered a strong Q1 2026 with revenue rising 6.4% YoY to $43.3B and operating income surging 630% to $2.3B, though operating cash flow fell sharply and leverage remains elevated.
Ford Motor Company's FY2025 10-K reveals a dramatic swing to a -$9.2B operating loss driven by a 10.1% surge in cost of revenue and a doubling of D&A charges, even as revenue grew modestly 1.2% to $187.3B and operating cash flow surged 38% to $21.3B.
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