Ford Motor Company announced its first quarter 2025 financial results.
“We are strengthening our underlying business with significantly better quality and our third straight quarter of year-over-year cost improvement, excluding the impact of tariffs,” said Ford president and chief executive officer Jim Farley. “Ford Pro, our largest competitive advantage, is off to a strong start to the year, gaining market share in the most profitable U.S. and European customer segments.”
The company posted first quarter revenue of $40.7 billion, a 5 percent decrease from the same period a year ago, as a result of a reduction in wholesales stemming from a planned shutdown in certain plants related to new product launches and inventory rebalancing measures. Net income was $471 million; adjusted earnings before interest and taxes was $1.0 billion.
Cash flow from operations in the first quarter was $3.7 billion, and adjusted free cash flow was a use of $1.5 billion. At the end of the quarter, Ford had $27 billion in cash and $45 billion in liquidity. Additionally, in April, Ford successfully renewed its $18 billion corporate credit facilities for another year.
Full-Year 2025 Outlook
Ford’s underlying business is strong – tracking within the previous adjusted EBIT guidance range of $7 billion to $8.5 billion, excluding new tariff-related impacts.
Based on what the company knows now, and its expectation of how certain details and changes will be resolved related to tariffs, the company estimates a net adverse adjusted EBIT impact of about $1.5 billion for full-year 2025. Given material near-term risks, especially the potential for industrywide supply chain disruption impacting production, the potential for future or increased tariffs in the U.S., changes in the implementation of tariffs including tariff offsets, retaliatory tariffs and other restrictions by other governments and the potential related market impacts, and finally policy uncertainties associated with tax and emissions policy, the company is suspending guidance.
Published June 2025
