Ford Mtr Co Del · NYSE:F
Ford Mtr Co Del — Ford Motor Company — Q3 2026 Earnings Presentation
34 slides from Ford Mtr Co Del's earnings presentation, Oct 28, 2026
Slide 1: Q3 2026 Earnings
Q3 2026 Earnings 2027 Ford Mustang Dark Horse SC Secre t
Slide 2: Contents
Contents Delivering Ford+ Page 4 - 5 Q3 Results Page 6 Year-to-Date Results Page 7 Financials Page 9 - 17 2026 Guidance Page 19 - 20 Appendix Page 22 - 33 2027 Ford Ranger Secre t
Slide 3: Safe Harbor Statement And Disclosures
Safe Harbor Statement And Disclosures Forward-Looking Statements GAAP & Non-GAAP Financial Measures This presentation includes forward-looking statements. This presentation includes financial measures calculated in Forward-looking statements are based on expectations, forecasts, accordance with Gene
Slide 4: Ford's Reporting Segments Reflect And Reinforce Our Ford+ Plan
Ford’s Reporting Segments Reflect And Reinforce Our Ford+ Plan: Advance Core Auto, Grow Auto Services, Expand Adjacent Businesses… Ford Ford Ford Ford Ford Ford Pro Model e Blue Pro Model e Credit Gas & Hybrid Vehicles Asset-Light, Commercial Electric Vehicles, Including Automotive Financial Vehicle
Slide 5: Q3 2026 Highlights: Profitable Growth, Capital Efficiency And Durability
Q3 2026 Highlights: Profitable Growth, Capital Efficiency And Durability Higher Growth Higher Margin More Efficient More Durable + Explorer and Expedition + Off-road performance vehicles + On track to deliver full year + Company adjusted EBIT of combined made Ford the No. 1 account for nearly 25% of
Slide 6: Q3 Financial Results
Q3 Financial Results Revenue Adj. EBIT Adj. EBIT Margin Adj. FCF Adj. EPS $49.5B $2.7B 5.4% $4.7B $0.49 2% ▲ 3% ▲ 0.3 ppts ▲ $0.4B ▲ $0.04 Ford Blue Ford Model e Ford Pro EBIT EBIT Margin EBIT EBIT Margin EBIT EBIT Margin $1.4B 5.1% $(1.1)B (86.5)% $1.7B 9.4% 6
Slide 7: Year-To-Date Financial Results
Year-To-Date Financial Results Revenue Adj. EBIT Adj. EBIT Margin Adj. FCF Adj. EPS $141.1B $8.6B 6.1% $4.9B $1.57 —% ▲ 51% ▲ 2.1 ppts $0.8B ▲ $0.61 Ford Blue Ford Model e Ford Pro EBIT EBIT Margin EBIT EBIT Margin EBIT EBIT Margin $4.5B 5.8% $(2.8)B (79.1)% $5.1B 10.1% 7
Slide 8: Financials
Financials 2027 Ford F-150 Carhartt Edition Secre t
Slide 9: Q3 Cash Flow, Cash Balance & Liquidity ($B)
Q3 Cash Flow, Cash Balance & Liquidity ($B) Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Adjusted Free Cash Flow Ford Credit Distributions incl. Above $0.4 $0.6 $1.0 $0.9 $0.8 Cash Balance Liquidity Cash Net of Debt $12.0 $7.7 $3.3 $(0.3) * $2.9 (excl. Finance Leases) * Department of Energy loan was assu
Slide 10: Q3 2026 Results ($B)
Q3 2026 Results ($B) Interest Taxes / Net Ford Blue Ford Model e Ford Corporate Company Special Noncontrolling Income / Ford Pro On Debt Strong cash Credit Other Adj. EBIT Items and liquidity Interests (Loss) B / (W) Q3 2025 $(0.1) $0.4 $(0.3) $0.2 $0.0 $0.1 $(0.1) $0.3 to invest available $(0.7) in
Slide 11: Q3 2026 Adjusted EBIT ($B)
Q3 2026 Adjusted EBIT ($B) VOLUME / MIX Favorable product mix, offset by lower volume, Ford primarily due to product Ford Ford Ford Ford Corporate Total discontinuation Blue Model e Pro Credit Other Company NET PRICING Q3 2025 $ 1.5 $ (1.4) $ 2.0 $ 0.6 $ (0.2) $ 2.6 Primarily higher net pricing in M
Slide 12: Ford Blue
Revenue ($B) 1,880 Ford Wholesale Units (000) Blue ■ Volume and revenue down, driven by product discontinuation and impact of the Middle East conflict within the region Memo: JV ■ EBIT of $1.4B, down $0.1B: Wholesales* 90 97 78 82 70 230 – Volume – Cost (Primarily commodities) + Product mix EBIT ($B
Slide 13: Ford Model e
Revenue ($B) Ford Wholesale Units (000) 97 Model e ■ Volume and revenue down, driven by discontinuation of F-150 Lightning and right-sizing of Mustang Mach-E production to customer demand ■ EBIT loss of $(1.1)B, improved by $0.4B: + Loss optimized on Gen-1 EBIT ($B) products EBIT Margin (%) – Higher
Slide 14: Ford Pro
Revenue ($B) 1,046 Ford Wholesale Units (000) Pro ■ Volume down reflecting product discontinuation and lower Ranger and Transit family, offset partially by higher truck production as we began to Memo: recover losses from Novelis JV Wholesales* 23 35 17 18 13 49 EV Wholesales 14 11 9 12 15 35 fires;
Slide 15: Ford Credit
Ford EBT ($B) Q3 EBT YoY ($B) Credit ■ Continued strong portfolio performance ■ EBT of $0.8B, up $0.2B: + Favorable derivative market valuation + Higher receivables and mix ■ U.S. Retail Loss-to-Receivables higher, reflecting higher U.S. Retail Loss-to-Receivables (“LTR”) Auction Values* (Per Unit)
Slide 16: Cash Flow And Balance Sheet ($B)
Cash Flow And Balance Sheet ($B) Third Quarter Year-To-Date Balance Sheet 2025 2026 2025 2026 2025 Dec 31 2026 Sep 30 Company Excl. Ford Credit Company Adj. EBIT excl. Ford Credit $ 2.0 $ 1.9 $ 3.9 $ 6.3 Company Cash Balance $ 28.7 $ 25.3 Capital Spending (2.1) (2.3) (5.9) (7.0) Liquidity 49.8 46.4
Slide 17: Special Items ($B)
Special Items ($B) Third Quarter Year-To-Date 2025 2026 2025 2026 Restructuring (by Geography) Europe $ (0.3) $ (0.1) $ (0.4) $ (0.4) Other Items EV program cancellations announced in December 2025 $ — $ (0.2) $ — $ (0.8) BOSK JV disposition — (0.0) — (3.6) All-electric three-row SUV program cancell
Slide 18: 2026 Guidance
2026 Guidance 2027 Ford F-250 Super Duty Secre t
Slide 19: CY 2026 Guidance
CY 2026 Guidance 2026 Financial Outlook Key Outlook Assumption Updates Revised Prior (Issued 10/28/26) (Issued 7/28/26) Revised Prior Adjusted EBIT $10.5B – $11.0B $10.0B – $11.0B Adjusted FCF $6.0B – $7.0B $6.0B – $7.0B U.S. SAAR of 16.5M 16.0M – 16.5M Capital Spending $9.5B – $10.5B $9.5B – $10.5B
Slide 20: Cautionary Note On Forward-Looking Statements
Cautionary Note On Forward-Looking Statements Statements included or incorporated by reference herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on expectations, forecasts, and assumptio
Slide 21: Appendix
Appendix 2027 Ford Bronco Sport Secre t
Slide 22: Key Metrics
Key Metrics EBIT ($B) Revenue ($B) Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Ford Blue $ 0.7 $ 1.5 $ 0.7 $ 1.9 $ 1.1 $ 1.4 $ 25.8 $ 28.0 $ 26.2 $ 23.9 $ 26.1 $ 27.1 Ford Model e (1.3) (1.4) (1.2) (0.8) (0.9) (1.1) 2.4 1.8 1.3 1.2 1.0 1.2 Ford Pro
Slide 23: Key Metrics
Key Metrics EBIT ($B) Revenue ($B) Q3 2025 Q3 2026 2026 B / (W) 2025 YTD 2026 YTD 2026 B / (W) Q3 2025 Q3 2026 2026 B / (W) 2025 YTD 2026 YTD 2026 B / (W) 2025 2025 2025 2025 Ford Blue $ 1.5 $ 1.4 $ (0.1) $ 2.3 $ 4.5 $ 2.2 $ 28.0 $ 27.1 $ (0.9) $ 74.8 $ 77.0 $ 2.2 Ford Model e (1.4) (1.1) 0.4 (3.6)
Slide 24: Q3 Results ($M)
Q3 Results ($M) Third Quarter Year-To-Date 2026 B / (W) 2026 B / (W) 2025 2026 2025 2026 2025 2025 Ford Blue $ 1,540 $ 1,392 $ (148) $ 2,297 $ 4,469 $ 2,172 Ford Model e (1,410) (1,058) 352 (3,588) (2,754) 834 Ford Pro 1,985 1,665 (320) 5,612 5,068 (544) Ford Credit 631 803 172 1,856 2,343 487 Corpo
Slide 25: Year-To-Date 2026 Adjusted EBIT ($B)
Year-To-Date 2026 Adjusted EBIT ($B) Ford Ford Ford Ford Corporate Total Blue Model e Pro Credit Other Company Year-To-Date 2025 $ 2.3 $ (3.6) $ 5.6 $ 1.9 $ (0.4) $ 5.7 YoY Change: Volume / Mix $ 1.1 $ 0.5 $ (0.9) $ — $ — $ 0.7 Net Pricing 0.5 0.2 0.0 — 0.0 0.6 Cost (0.6) 0.2 (0.1) — 0.2 (0.3) Excha
Slide 26: Quarterly Results ($M)
Quarterly Results ($M) 2025 2026 Q1 Q2 Q3 Q4 Full Year Q1 Q2 Q3 Ford Blue $ 96 $ 661 $ 1,540 $ 727 $ 3,024 $ 1,942 $ 1,135 $ 1,392 Ford Model e (849) (1,329) (1,410) (1,218) (4,806) (777) (919) (1,058) Ford Pro 1,309 2,318 1,985 1,231 6,843 1,685 1,718 1,665 Ford Credit 580 645 631 701 2,557 783 757
Slide 27: Net Income / (Loss) Reconciliation To Adjusted EBIT ($M)
Net Income / (Loss) Reconciliation To Adjusted EBIT ($M) Third Quarter Year-To-Date Memo: 2025 2026 2025 2026 FY 2025 Net Income / (Loss) Attributable to Ford (GAAP) $ 2,447 $ 2,049 $ 2,882 $ 3,270 $ (8,182) Income / (Loss) Attributable to Noncontrolling Interests 1 — 10 8 20 Net Income / (Loss) $ 2
Slide 28: Net Cash From Operating Activities Reconciliation To Company Adjusted FCF
Net Cash Provided By / (Used In) Operating Activities Reconciliation To Company Adjusted FCF ($M) 2025 2026 Year-To-Date Q1 Q2 Q3 Q4 Q1 Q2 Q3 2025 2026 Net Cash Provided By / (Used In) Operating Activities (GAAP) $ 3,679 $ 6,317 $ 7,402 $ 3,884 $ 1,316 $ 4,345 $ 5,427 $17,398 $11,088 Less: Items Not
Slide 29: EPS Reconciliation To Adjusted EPS
Earnings / (Loss) Per Share Reconciliation To Adjusted Earnings / (Loss) Per Share Third Quarter Year-To-Date 2025 2026 2025 2026 Diluted After-Tax Results ($M) Diluted After-Tax Results (GAAP) $ 2,447 $ 2,049 $ 2,882 $ 3,270 Less: Impact of Pre-Tax and Tax Special Items 627 71 (989) (3,106) Adjuste
Slide 30: Effective Tax Rate Reconciliation To Adjusted Effective Tax Rate
Effective Tax Rate Reconciliation To Adjusted Effective Tax Rate Q3 2026 Year-To-Date 2026 Full Year 2025 Pre-Tax Results ($M) Income / (Loss) Before Income Taxes (GAAP) $ 2,146 $ 3,025 $ (11,830) Less: Impact of Special Items (127) (4,532) (17,356) Adjusted Earnings Before Taxes (Non-GAAP) $ 2,273
Slide 31: Adjusted ROIC ($B)
Adjusted ROIC ($B) Four Quarters Four Quarters Ending Q3 2025 Ending Q3 2026 Adjusted Net Operating Profit / (Loss) After Cash Tax Net Income / (Loss) Attributable to Ford $ 4.7 $ (7.8) Add: Noncontrolling Interest 0.0 0.0 Less: Income Tax (0.6) 4.0 Add: Cash Tax (0.6) (0.9) Less: Interest on Debt (
Slide 32: Non-GAAP Financial Measures That Supplement GAAP Measures
Non-GAAP Financial Measures That Supplement GAAP Measures We use both GAAP and non-GAAP financial measures for operational and financial decision making, and to assess Company and segment business performance. The non-GAAP measures listed below are intended to be considered by users as supplemental
Slide 33: Definitions And Calculations
Definitions And Calculations Wholesale Units and Revenue • Wholesale unit volumes include all Ford and Lincoln badged units (whether produced by Ford or by an unconsolidated affiliate) that are sold to dealerships or others, units manufactured by Ford that are sold to other manufacturers, units dist
Slide 34: Q3 2026 Earnings
Q3 2026 Earnings Secre t 2027 Ford Bronco Desert Rising Package