Ford Motor (F) Q1 FY2026 earnings: revenue $43.3 billion, up 6.4% on the year

Ford Motor Co. (F) reported revenue of $43.3 billion for Q1 FY2026, the quarter ended 31 March 2026, up 6.4% on the same quarter a year earlier. Net income was $2.5 billion, up 441.0% on the year, and diluted earnings per share $0.63. The figures are the company's own, from the 10-Q it filed with the SEC on 30 April 2026.

Revenue

$43.3 billion

+6.4% on the year · -5.7% on the quarter

Q2 FY2024Q1 FY2026

Operating margin

5.4%

0.8% a year earlier

Q2 FY2024Q1 FY2026

Net income

$2.5 billion

+441.0% on the year

Q2 FY2024Q1 FY2026

Diluted EPS

$0.63

+425.0% on the year

Q2 FY2024Q1 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 raised, 5 new, 5 kept.

Revenue rose six percent: Revenue was $43.3 billion against $40.7 billion a year earlier. Net income was $2.5 billion, with diluted EPS of $0.63 against $0.12.
One-time tariff benefit included in results: Results include a $1.3 billion one-time IEEPA benefit for amounts paid from March 2025 to February 2026, mainly in Ford Blue and Ford Pro.
Adjusted EBIT margin reached 8.1 percent: Company adjusted EBIT was $3.5 billion, up from $1.0 billion a year earlier. Adjusted diluted EPS was $0.66 against $0.14.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Revenue	43,253	45,890	40,659	-5.7%	+6.4%
Cost of revenue	35,311	51,622	35,188	-31.6%	+0.3%
Gross profit	7,942	-5,732	5,471		+45.2%
Gross margin	18.4%	-12.5%	13.5%
Selling, general and administrative	2,807	2,972	2,431	-5.6%	+15.5%
Operating income	2,329	-11,557	319		+630.1%
Operating margin	5.4%	-25.2%	0.8%
Interest expense	350	348	288	+0.6%	+21.5%
Pre-tax income	2,912	-14,810	621		+368.9%
Income tax	361	-3,756	148		+143.9%
Effective tax rate	12.4%	n/a	23.8%
Net income	2,548	-11,064	471		+441.0%
Net margin	5.9%	-24.1%	1.2%
Diluted EPS	$0.63	-$2.77	$0.12		+425.0%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Operating cash flow	1,316	3,884	3,679	-66.1%	-64.2%
Capital expenditure	2,376	2,784	1,818	-14.7%	+30.7%
Free cash flow	-1,060	1,100	1,861
Free cash flow margin	-2.5%	2.4%	4.6%
Cash from investing	-771	-7,661	210
Cash from financing	-6,172	353	-6,120
Depreciation and amortisation	1,883	10,252	1,848	-81.6%	+1.9%
Share-based compensation	110	101	121	+8.9%	-9.1%
Buybacks	311	0.0	0.0
Dividends paid	607	599	1,196	+1.3%	-49.2%
Dividend per share	$0.15	n/a	$0.30		-50.0%
Diluted shares, weighted	4,071m	3,979m	4,011m	+2.3%	+1.5%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Shareholders' equity	37,453	35,952	44,635	+4.2%	-16.1%
Non-controlling interest	31.0	28.0	25.0	+10.7%	+24.0%
Debt	157,126	163,336	155,270	-3.8%	+1.2%
Operating lease liabilities	1,818	1,835	1,933	-0.9%	-5.9%
Finance lease liabilities	n/a	754	n/a
Other liabilities	86,006	87,255	82,676	-1.4%	+4.0%
Total liabilities and equity	282,434	289,160	284,539	-2.3%	-0.7%
Fixed assets	n/a	n/a	42,471
Goodwill	n/a	483	n/a
Intangible assets	n/a	170	n/a
Investments	12,839	15,131	14,362	-15.1%	-10.6%
Cash and equivalents	17,649	23,356	20,864	-24.4%	-15.4%
Receivables	17,227	15,398	17,225	+11.9%	+0.0%
Inventory	16,537	15,285	17,895	+8.2%	-7.6%
Other assets	218,182	219,337	171,722	-0.5%	+27.1%
Total assets	282,434	289,160	284,539	-2.3%	-0.7%

Questions

What was Ford Motor's revenue in Q1 FY2026?

Ford Motor (F) reported revenue of $43.3 billion for Q1 FY2026, the quarter ended 31 March 2026, up 6.4% on the same quarter a year earlier.

How much did Ford Motor earn in Q1 FY2026?

Net income for Q1 FY2026 was $2.5 billion, up 441.0% on the year, and diluted earnings per share $0.63.

When did Ford Motor report Q1 FY2026 results?

Ford Motor filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 30 April 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	37,678	34,476	40,190	39,392	43,999	41,474	44,954	43,801	45,962	42,777	47,808	46,196	48,211	40,659	50,184	50,534	45,890	43,253	48,296	49,526
Cost of revenue	32,393	29,036	33,191	34,354	37,816	34,669	37,471	37,548	40,862	36,476	40,489	40,168	41,301	35,188	44,245	43,411	51,622	35,311	42,216	42,148
Gross profit	5,285	5,440	6,999	5,038	6,183	6,805	7,483	6,253	5,100	6,301	7,319	6,028	6,910	5,471	5,939	7,123	-5,732	7,942	6,080	7,378
Gross margin	14%	16%	17%	13%	14%	16%	17%	14%	11%	15%	15%	13%	14%	13%	12%	14%	-12%	18%	13%	15%
SG&A	3,248	2,740	2,759	2,847	2,542	2,506	2,750	2,671	2,775	2,376	2,678	2,456	2,777	2,431	2,706	2,740	2,972	2,807	2,684	3,079
Operating income	739	1,343	2,868	504	1,561	2,113	2,461	1,129	-245	1,225	1,883	880	1,231	319	511	1,558	-11,557	2,329	638	1,454
Operating margin	2%	4%	7%	1%	4%	5%	5%	3%	-1%	3%	4%	2%	3%	1%	1%	3%	-25%	5%	1%	3%
Interest expense	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	288	297	321	348	350	357	385
Pre-tax income	11,218	-3,848	791	-1,125	1,166	2,159	2,288	1,387	-1,867	1,612	2,438	869	2,314	621	541	1,818	-14,810	2,912	-2,033	2,146
Tax rate	-9%	n/a	19%	n/a	-8%	23%	12%	15%	n/a	17%	25%	-3%	21%	24%	105%	-35%	n/a	12%	n/a	5%
Net income	12,282	-3,110	667	-827	1,289	1,757	1,917	1,199	-526	1,332	1,831	892	1,824	471	-36.0	2,447	-11,064	2,548	-1,327	2,049
Net margin	33%	-9%	2%	-2%	3%	4%	4%	3%	-1%	3%	4%	2%	4%	1%	-0%	5%	-24%	6%	-3%	4%
Diluted EPS	$3.05	-$0.78	$0.16	-$0.21	$0.34	$0.44	$0.47	$0.30	-$0.13	$0.33	$0.46	$0.22	$0.45	$0.12	-$0.01	$0.60	-$2.77	$0.63	-$0.33	$0.50
Operating cash flow	3,531	-1,084	2,947	3,812	1,178	2,800	5,035	4,591	2,492	1,385	5,508	5,502	3,028	3,679	6,317	7,402	3,884	1,316	4,345	5,427
Capital expenditure	1,772	1,370	1,699	1,732	2,065	1,780	1,949	2,212	2,295	2,094	2,100	1,992	2,498	1,818	2,088	2,125	2,784	2,376	2,382	2,285
Free cash flow	1,759	-2,454	1,248	2,080	-887	1,020	3,086	2,379	197	-709	3,408	3,510	530	1,861	4,229	5,277	1,100	-1,060	1,963	3,142
Buybacks	0.0	0.0	0.0	0.0	484	0.0	0.0	0.0	335	0.0	244	32.0	150	0.0	0.0	0.0	0.0	311	0.0	0.0
Dividends paid	400	405	402	603	599	3,193	601	600	601	1,326	599	597	596	1,196	597	597	599	607	599	598
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2026, filed 30 April 2026: the filing.