Q4 2025 Ford Motor Co Earnings Call Transcript
Key Points
- Ford Motor Co (F) reported a revenue growth to $187 billion, marking the fifth consecutive year of revenue increase.
- The company achieved a US market share of 13.2%, the best performance in six years.
- Ford Pro delivered more than $66 billion in revenue with a double-digit margin, demonstrating its importance as a key profit pillar.
- Ford Motor Co (F) generated $3.5 billion of free cash flow and ended the year with nearly $50 billion in liquidity.
- The company made significant progress in cost and quality, including lowering material and warranty costs.
- Ford Motor Co (F) faced a $2 billion headwind due to Novelis fires and a net tariff impact, which was $1 billion higher than previously communicated.
- The company expects losses of $4 billion to $4.5 billion for Ford Model E, reflecting ongoing challenges in the EV segment.
- Temporary costs related to Novelis are expected to be $1.5 billion to $2 billion, impacting the company's financials.
- Ford Motor Co (F) anticipates a tougher regulatory climate in Europe, which could dampen results for Ford Pro.
- The company is facing higher commodity prices driven by inflation and pressure on DRAM, impacting cost structures.
Thank you, Leila, and welcome to Ford Motor Company's fourth-quarter 2025 earnings call.
With me today are Jim Farley, President and CEO; and Sherry House, CFO. Joining us for Q&A is Andrew Frick, President of Ford Blue and Model e, Alicia Bohler Davis, President of Ford Pro, Kumar Galhotra, Chief Operating Officer, and Kathy O'Callaghan, CEO of Ford Credit.
Jim will give a high-level overview of the business, and Sherry will provide added text on the financials and our guidance for 2026. We'll be referencing non-GAAP measures today. These are reconciled to the most comparable U.S. GAAP measures in the appendix of our earnings deck. You can find the deck at shareholder.ford.com. Our discussion also includes forward-looking statements.
Our actual results may differ. The most significant risk factors are included on page 21 of our deck. Unless otherwise noted, all comparisons are year over year. Company EBITS, EPS, and free cash flow are on an adjusted basis. Upcoming IR engagements include Sherry
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