Shares of Ford Motor Co. rose more than 4% in premarket trading on Friday after the automaker beat Wall Street’s third-quarter earnings expectations, even as it cut its 2025 guidance due to production disruptions from a supplier fire.
The Detroit-based carmaker reported net income of $2.4 billion, nearly tripling from $900 million a year earlier, as Americans continued to spend heavily on Ford’s pickup trucks and sport-utility vehicles.
Revenue surged to a record $50 billion, well above analysts’ forecasts of $43 billion.
US sales rose 8% year-on-year, driven by the strongest performance in two decades of the full-size Expedition SUV.
“Our performance in the quarter shows that the Ford+ plan is delivering consistent improvement,” Chief Financial Officer Sherry House said.
“Our underlying business becomes stronger, more efficient, more agile and increasingly durable.”
The company said it remains on track to cut $1 billion in costs this year under the Ford+ turnaround strategy introduced by CEO Jim Farley five years ago.
Fire at aluminium supplier disrupts truck production
Ford’s otherwise strong quarter was overshadowed by a fire at a key aluminum supplier that has forced production cuts at its Kentucky plant.
Earlier this month, Ford’s share price fell by more than 7% after the Wall Street Journal reported that the fire at the New York aluminium plant operated by Novelis would “disrupt business at Ford Motor and other automakers for months to come.”
The disruption has affected manufacturing of its highly profitable Expedition SUV and its luxury sibling, the Lincoln Navigator.
The company said the incident would cost as much as $2 billion in earnings during the next quarter.
As a result, Ford lowered its full-year outlook for both profit and cash flow.
Ford now expects adjusted earnings before interest and taxes of between $6 billion and $6.5 billion, down from its previous range of $6.5 billion to $7.5 billion.
Adjusted free cash flow guidance was reduced to between $2 billion and $3 billion, from a prior estimate of $3.5 billion to $4.5 billion.
Capital spending remains unchanged at about $9 billion.
“If not for the aluminum issue, we would have raised our full-year guidance to over $8 billion,” House said, noting that the company plans to recoup the production loss next year.
Ford ramps up gasoline pickup output to offset losses
To make up for lost production, Ford will expand output of its gasoline-powered F-Series pickups by 50,000 trucks in 2026 and hire roughly 1,000 additional workers.
The company also plans to idle production of its electric F-150 at a Detroit complex, temporarily shifting those workers to increase output of gasoline-powered F-150 models.
In Kentucky, Ford will ramp up production of Super Duty trucks such as the F-250.
Despite supply constraints, Ford posted adjusted operating income of $2.6 billion in the quarter, comfortably beating analyst expectations of $2 billion.
Analysts say fire incident aside, results proof of steady operational progress
Analysts said the temporary production setback masks underlying progress in Ford’s operations and cost control.
Daiwa Capital Markets, which rates the stock “neutral,” said the cut in profit guidance largely reflects the loss of 90,000 to 100,000 vehicles from the aluminum shortage but noted that the company will benefit from $1 billion in tariff cost relief on US-assembled models.
Piper Sandler, also “neutral” with a price target of $11, said Ford would have raised guidance if not for the Novelis supplier fire, adding that profitability should improve once supply normalizes next year.
Jefferies, which maintains a “hold” rating and a $12 price target, said Ford’s overall performance remains toward the upper end of forecasts despite tariff headwinds.
Morningstar placed fair value at $16, noting that Ford’s automotive costs have declined for five consecutive quarters—a sign of continued progress under Farley’s leadership.
Ford shares have gained more than 27% so far this year.
While the supplier disruption will weigh on short-term earnings, analysts say the automaker’s steady operational improvements and cost cuts position it well for a stronger 2026.
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