Ford Motor said Wednesday that it expects 2027 earnings to be roughly in line with its anticipated 2026 results. The company reported mixed third-quarter results.
Ford beat Wall Street's third-quarter earnings expectations but slightly missed revenue estimates, according to LSEG and StreetAccount figures cited by CNBC. Ford reported third-quarter adjusted free cash flow of $4.7 billion, roughly $2 billion above analyst expectations, according to StreetAccount.
Ford CFO Sherry House said the company expects 2027 earnings to be roughly level with this year, citing offsetting factors. She said a $1.3 billion tariff refund received in the first quarter of 2026 was largely offset by extra costs from alternative aluminum sourcing, which the company does not expect next year. She also said Ford's F-Series Super Duty production in Canada in 2027 will make up for lost output at F-150 factories being retooled for new models.
Ford narrowed its 2026 adjusted earnings before interest and taxes guidance to between $10.5 billion and $11 billion, from $10 billion to $11 billion. It kept its adjusted free cash flow guidance at $6 billion to $7 billion.
Ford CEO Jim Farley called 2027 a "foundational year" on the way to an 8% adjusted EBIT margin target by 2029. The company reported a 5.4% margin in the third quarter.
Third-quarter revenue, including the credit segment, fell about 2% from a year earlier to $49.5 billion. Net income dropped $400 million to $2 billion. Adjusted EBIT rose slightly to $2.7 billion. CNBC reported that each of Ford's main business units, Ford Blue, Ford Pro and Model e, underperformed Wall Street's revenue expectations.