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• Revenue: $41 billion, down 5% year-over-year.

• EBIT: $1 billion, exceeding expectations of roughly breakeven for the quarter.

• Free Cash Flow: Use of $1.5 billion, impacted by unfavorable timing differences, net spending, and changes in working capital.

• Cash and Liquidity: Over $27 billion in cash and over $45 billion in liquidity as of March 31.

• Dividend: Declared a regular second-quarter dividend of $0.15 per share.

• Tariff Impact: Estimated gross adverse EBIT impact of $2.5 billion and net adverse EBIT impact of $1.5 billion for full-year 2025.

• Ford Pro Performance: Over 40% share of the US Class 1 truck and van market; 7% of all customer-paid repair orders from mobile repair.

• Model e Performance: US retail sales grew 15% in the quarter; first-quarter wholesale volumes more than doubled.

• Ford Blue Performance: Modest profit; Bronco sales grew 35%; hybrid mix of global sales increased 250 basis points.

• Ford Credit: EBT up significantly; $200 million distribution to the automotive company.

• Warning! GuruFocus has detected 5 Warning Signs with F.

Release Date: May 05, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Ford Motor Co (NYSE:F) achieved its best first-quarter US pickup sales in over 20 years, indicating strong demand for its vehicles.

• The company delivered $1 billion in EBIT, exceeding expectations of roughly breakeven for the quarter, driven by cost improvements and strong net pricing in North America.

• Ford Pro continues to be a competitive advantage, with strong demand for key products and growth in software subscriptions, which rose by 20% year over year.

• Ford and Lincoln were the most improved brands in J.D. Power's 2025 US Vehicle Dependability Study, highlighting improvements in quality.

• The company is on track to deliver $1 billion in net cost reductions this year, excluding the impact of changes in tariff policy.

Negative Points

• Ford Motor Co (NYSE:F) suspended its full-year 2025 guidance due to uncertainties related to tariffs and potential industry-wide supply chain disruptions.

• The company estimated a gross adverse EBIT impact of $2.5 billion and a net adverse EBIT impact of $1.5 billion for full-year 2025 due to tariffs.

• Ford experienced a 7% decline in wholesales and a 5% decrease in revenue to $41 billion, partly due to planned downtime at several plants.

• The company faces potential challenges from competitors' responses to tariffs and related market dynamics, which could impact pricing and volume.

• Ford is dealing with uncertainties associated with tax and emissions policy, which could affect future operations and profitability.