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Ford Motor Company F reported first-quarter 2025 adjusted earnings per share of 14 cents, which surpassed the Zacks Consensus Estimate of breakeven earnings but declined from 49 cents recorded in the year-ago quarter. The company’s consolidated first-quarter revenues came in at $40.66 billion, down 5% year over year. F’s total automotive revenues came in at $37.42 billion, topping the Zacks Consensus Estimate of $35.48 billion but decreasing from $39.89 billion generated a year ago.
The company has suspended the guidance for 2025. Amid tariff woes, Ford expects an adverse adjusted EBIT impact of about $1.5 billion this year.
Ford Motor Company Price, Consensus and EPS Surprise
Ford Motor Company price-consensus-eps-surprise-chart | Ford Motor Company Quote
Segmental Performance
In the first quarter, total wholesale volume in the Ford Blue segment decreased 6% year over year to 588,000 units but exceeded our expectation of 524,000 units. Revenues from the segment decreased 3% year over year to $21 billion but topped our estimate of $17.63 billion due to higher-than-expected units sold. Earnings before interest and taxes came in at $96 million, below our projection of $275.5 million. EBIT margin of 0.5% was down 360 basis points from the corresponding quarter of 2024.
Total wholesale volume in the Ford Model e segment rose 213% year over year to 31,000 units, missing our estimate of 39,000. Revenues from the segment jumped 967% year over year to $1.2 billion, but lagged our estimate of $1.5 million on lower-than-expected units sold. The segment incurred a loss before interest and taxes of $849 million compared with our model estimate of a loss of $1.17 billion.
Total wholesale volume in the Ford Pro segment decreased 14% year over year to 352,000 and missed our expectation of 370,000 units. Revenues from the segment slumped 16% year over year to $15.2 billion, missing our expectation of $16.24 billion on lower-than-expected units sold. Earnings before interest and taxes came in at $1.31 billion with an EBIT margin of 8.6%. EBIT was below our projection of $1.5 billion.
First-quarter revenues from the Ford Credit unit came in at $3.24 billion, up 12% year over year and ahead of our estimate of $3.01 billion. Pretax earnings were roughly $580 million, up 78% year over year.
(Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)
Financial Position
Ford reported negative adjusted free cash flow of $1.5 billion for the quarter. It had cash and cash equivalents of $20.9 billion as of March 31, 2025. Long-term debt, excluding Ford Credit, totaled $16.64 billion on March 31, 2025.