Ford Reports $8.2B Net Loss for 2025 Due to EV Restructuring, Projects Improved 2026 Adjusted EBIT
F sits 60% above its 52-week low of $8.441.
Summary
Ford Motor Company reported a significant net loss for full-year 2025, largely driven by a $10.7 billion EV asset impairment, but provided an optimistic 2026 outlook with projected increases in adjusted EBIT and free cash flow.
Key Events · Earnings and Guidance · F
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Full-Year 2025 Financial Results
Ford reported full-year 2025 revenue of $187.3 billion (up 1%), a net loss of $8.2 billion (compared to $5.9 billion net income in 2024), adjusted EBIT of $6.8 billion (down from $10.2 billion), and adjusted diluted EPS of $1.09 (down from $1.84).
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Significant EV Restructuring Charges
The 2025 net loss was heavily influenced by $17.4 billion in pre-tax special items, including a substantial $10.7 billion charge for Model e asset impairment and EV program cancellations, and $3.2 billion for BlueOval SK JV disposition.
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Positive Full-Year 2026 Outlook
For 2026, Ford anticipates adjusted EBIT of $8.0 billion to $10.0 billion (up from $6.8 billion in 2025) and adjusted free cash flow of $5.0 billion to $6.0 billion (up from $3.5 billion in 2025).
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Model e Losses Expected to Narrow
The Model e segment is projected to report a loss of $4.0 billion to $4.5 billion in 2026, an improvement compared to the $4.8 billion loss in 2025, indicating progress in EV profitability.
Analysis · F · Manufacturing
Ford's full-year 2025 results were significantly impacted by substantial special items, primarily a $10.7 billion charge related to Model e asset impairment and EV program cancellations. This led to a GAAP net loss, despite a slight increase in overall revenue. While the adjusted EBIT and free cash flow also declined year-over-year, the company's strategic focus on restructuring its EV business is evident. The forward-looking guidance for 2026 is a key positive, projecting a notable increase in adjusted EBIT and free cash flow, along with a narrowing of losses in the Model e segment. This indicates management's confidence in future operational improvements and the benefits of the recent strategic decisions.
At the time of this filing, F was trading at $13.50 on NYSE in the Manufacturing sector, with a market capitalization of approximately $54.1B. The 52-week trading range was $8.44 to $14.50. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.