Ford Mtr Co Del · NYSE:F

Ford Mtr Co Del — Ford Motor Company — Q1 2026 Earnings Presentation

30 slides from Ford Mtr Co Del's earnings presentation, Apr 29, 2026

  1. Slide 1: Q1 2026 Earnings

    2026 Ford F-250 Super Duty Q1 2026 Earnings Secre t

  2. Slide 2: Contents

    Contents Delivering Ford+ Page 4 - 5 Q1 Results Page 6 Financials Page 8 - 16 2026 Guidance Page 18 - 19 Appendix Page 21 - 29 2026 Ford Mustang Mach-E Rally Secre t

  3. Slide 3: Safe Harbor Statement And Disclosures

    Safe Harbor Statement And Disclosures Forward-Looking Statements GAAP & Non-GAAP Financial Measures This presentation includes forward-looking statements. This presentation includes financial measures calculated in Forward-looking statements are based on expectations, forecasts, accordance with Gene

  4. Slide 4: Customer-Focused Segments Unleash Full Potential Of Ford+ Plan

    Customer-Focused Segments Unleash Full Potential Of Ford+ Plan Three distinct but Ford Ford Ford Ford Ford interconnected business Pro Model e segments meet the unique needs of customers and Blue Pro Model e offer Freedom of Choice Asset-Light Commercial Gas & Hybrid Vehicles Electric Vehicles, Incl

  5. Slide 5: Q1 2026 Highlights

    Q1 2026 Highlights Higher Growth Higher Margin More Efficient More Durable + Revenue of $43.3B up 6%, + Off-road performance trims + Announced new end-to-end + #1 in Class 1-7 U.S. vehicle reflecting focused execution account for nearly 25% of U.S. organization, Product Creation sales, with market s

  6. Slide 6: Q1 Financial Results

    Q1 Financial Results Revenue Adj. EBIT Adj. EBIT Margin Adj. FCF Adj. EPS $43.3B $3.5B 8.1% $(1.9)B $0.66 ▲ 6% ▲ 242% ▲ 5.6 ppts  $0.4B ▲ $0.52 Ford Blue Ford Model e Ford Pro EBIT EBIT Margin EBIT EBIT Margin EBIT EBIT Margin $1.9B 8.1% $(0.8)B (63.1)% $1.7B 11.4% 6

  7. Slide 7: Financials

    Financials 2027 Ford Expedition 30 Year Anniversary Edition Available Summer 2026 Secre t

  8. Slide 8: Q1 Cash Flow, Cash Balance & Liquidity ($B)

    Q1 Cash Flow, Cash Balance & Liquidity ($B) Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Adjusted Free Cash Flow Ford Credit Distributions incl. Above $0.2 $0.5 $0.4 $0.6 $1.0 Cash Balance Liquidity Cash Net of Debt $7.0 $8.9 $12.0 $7.7 $3.3 (excl. Finance Leases) 8

  9. Slide 9: Q1 2026 Results ($B)

    Q1 2026 Results ($B) Interest Taxes / Net Ford Blue Ford Model e Ford Corporate Company Special Noncontrolling Income / Ford Pro On Debt Strong cash Credit Other Adj. EBIT Items and liquidity Interests (Loss) B / (W) Q1 2025 $1.8 $0.1 $0.4 $0.2 $(0.0) $2.5 $(0.1) $(0.1) $(0.2) available to invest in

  10. Slide 10: Q1 2026 Adjusted EBIT ($B)

    Q1 2026 Adjusted EBIT ($B) Ford Ford Ford Ford Ford Corporate Total VOLUME / MIX Blue Model e Pro Credit Other Company Favorable product mix partially offset by Q1 2025 $ 0.1 $ (0.8) $ 1.3 $ 0.6 $ (0.1) $ 1.0 Novelis-related aluminum supply constraints, YoY Change: primarily on Super Duty Volume / M

  11. Slide 11: Blue

    Revenue ($B) Ford Wholesale Units (000) Blue ■ ■ Volume Revenueand up,revenue up 3% reflecting and 8%, respectively favorable product mix and ■ higher EBIT upnet pricing; also saw an $0.6B: +increase Volumein/ U.S. mix retail market Memo: JV +share Commodities Wholesales* 91 97 90 97 78 ■ –EBIT of $

  12. Slide 12: Model e

    Revenue ($B) Ford Wholesale Units (000) Model e ■ Volume up, driven by higher European wholesales, partially offset by discontinuation of F-150 Lightning; revenue flat ■ EBIT loss of $(0.8)B, flat to prior year: + Gen-1 product optimization – Investment in next-gen EBIT ($B) products EBIT Margin (%)

  13. Slide 13: Pro

    Revenue ($B) Ford Wholesale Units (000) Pro ■ Volume and revenue down, reflecting production disruptions due to Novelis ■ EBIT of $1.7B, up $0.4B: + Cost incl. IEEPA tariff benefit Memo: JV Wholesales* 20 21 23 35 17 of ~$0.5B EV Wholesales 8 15 14 11 9 + Software & physical services + Exchange EBIT

  14. Slide 14: Credit

    Ford Auction Values* (Per Unit) U.S. Retail Loss-to-Receivables (“LTR”) Ratio (%) Credit ■ Continued strong portfolio performance ■ EBT of $0.8B, up $0.2B: + Financing margin improvement + Favorable derivative market * U.S. portfolio off-lease auction values at Q1 2026 mix valuation ■ Auction values

  15. Slide 15: Cash Flow And Balance Sheet ($B)

    Cash Flow And Balance Sheet ($B) First Quarter Balance Sheet 2025 2026 2025 Dec 31 2026 Mar 31 Company Excl. Ford Credit Company Adj. EBIT excl. Ford Credit $ 0.4 $ 2.7 Company Cash Balance $ 28.7 $ 22.0 Capital Spending (1.8) (2.4) Liquidity 49.8 43.1 Depreciation and Tooling Amortization 1.2 1.2 D

  16. Slide 16: Special Items ($B)

    Special Items ($B) First Quarter 2025 2026 Restructuring (by Geography) Europe $ (0.0) $ (0.4) Other Items EV program cancellations announced in December 2025 $ — $ (0.1) All-electric three-row SUV program cancellation and resulting actions (0.1) 0.1 Subtotal Other Items $ (0.1) $ (0.1) Pension and

  17. Slide 17: 2026 Guidance

    2026 Guidance 2026 Ford Mustang TLD Signature Edition Secre t

  18. Slide 18: CY 2026 Guidance

    CY 2026 Guidance 2026 Outlook Revised Provided on Outlook Feb. 10, 2026 Outlook Assumptions: Adjusted EBIT $8.5B - $10.5B $8.0B - $10.0B • U.S. SAAR of 16.0M – 16.5M • Full year U.S. industry pricing about flat Adjusted FCF $5.0B - $6.0B $5.0B - $6.0B • One-time IEEPA tariff benefit of $1.3B; Assume

  19. Slide 19: Cautionary Note On Forward-Looking Statements

    Cautionary Note On Forward-Looking Statements Statements included or incorporated by reference herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on expectations, forecasts, and assumptio

  20. Slide 20: Appendix

    Appendix Secre 2026 Ford Bronco t

  21. Slide 21: Key Metrics

    Key Metrics EBIT ($B) Revenue ($B) Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Ford Blue $ 0.1 $ 0.7 $ 1.5 $ 0.7 $ 1.9 $ 21.0 $ 25.8 $ 28.0 $ 26.2 $ 23.9 Ford Model e (0.8) (1.3) (1.4) (1.2) (0.8) 1.2 2.4 1.8 1.3 1.2 Ford Pro 1.3 2.3 2.0 1.2 1.7 15.2 18.8 17.4 14.

  22. Slide 22: Quarterly Results ($M)

    Quarterly Results ($M) 2025 2026 Q1 Q2 Q3 Q4 Full Year Q1 Ford Blue $ 96 $ 661 $ 1,540 $ 727 $ 3,024 $ 1,942 Ford Model e (849) (1,329) (1,410) (1,218) (4,806) (777) Ford Pro 1,309 2,318 1,985 1,231 6,843 1,685 Ford Credit 580 645 631 701 2,557 783 Corporate Other (117) (155) (160) (406) (838) (145)

  23. Slide 23: Net Income / (Loss) Reconciliation To Adjusted EBIT ($M)

    Net Income / (Loss) Reconciliation To Adjusted EBIT ($M) First Quarter 2025 2026 Net Income / (Loss) Attributable to Ford (GAAP) $ 471 $ 2,548 Income / (Loss) Attributable to Noncontrolling Interests 2 3 Net Income / (Loss) $ 473 $ 2,551 Less: (Provision For) / Benefit From Income Taxes (148) (361)

  24. Slide 24: Net Cash Provided By Operating Activities Reconciliation To Company Adjusted FCF

    Net Cash Provided By / (Used In) Operating Activities Reconciliation To Company Adjusted FCF ($M) 2025 2026 Q1 Q2 Q3 Q4 Q1 Net Cash Provided By / (Used In) Operating Activities (GAAP) $ 3,679 $ 6,317 $ 7,402 $ 3,884 $ 1,316 Less: Items Not Included in Company Adjusted Free Cash Flows Ford Credit Ope

  25. Slide 25: Earnings / (Loss) Per Share Reconciliation To Adjusted Earnings Per Share

    Earnings / (Loss) Per Share Reconciliation To Adjusted Earnings / (Loss) Per Share First Quarter 2025 2026 Diluted After-Tax Results ($M) Diluted After-Tax Results (GAAP) $ 471 $ 2,548 Less: Impact of Pre-Tax and Tax Special Items (81) (150) Adjusted Net Income / (Loss) – Diluted (Non-GAAP) $ 552 $

  26. Slide 26: Effective Tax Rate Reconciliation To Adjusted Effective Tax Rate

    Effective Tax Rate Reconciliation To Adjusted Effective Tax Rate Q1 2026 Full Year 2025 Pre-Tax Results ($M) Income / (Loss) Before Income Taxes (GAAP) $ 2,912 $ (11,830) Less: Impact of Special Items (226) (17,356) Adjusted Earnings Before Taxes (Non-GAAP) $ 3,138 $ 5,526 Taxes ($M) (Provision For)

  27. Slide 27: Adjusted ROIC ($B)

    Adjusted ROIC ($B) Four Quarters Four Quarters Ending Q1 2025 Ending Q1 2026 Adjusted Net Operating Profit / (Loss) After Cash Tax Net Income / (Loss) Attributable to Ford $ 5.0 $ (6.1) Add: Noncontrolling Interest 0.0 0.0 Less: Income Tax (1.2) 3.5 Add: Cash Tax (0.9) (0.6) Less: Interest on Debt (

  28. Slide 28: Non-GAAP Financial Measures That Supplement GAAP Measures

    Non-GAAP Financial Measures That Supplement GAAP Measures We use both GAAP and non-GAAP financial measures for operational and financial decision making, and to assess Company and segment business performance. The non-GAAP measures listed below are intended to be considered by users as supplemental

  29. Slide 29: Definitions And Calculations

    Definitions And Calculations Wholesale Units and Revenue • Wholesale unit volumes include all Ford and Lincoln badged units (whether produced by Ford or by an unconsolidated affiliate) that are sold to dealerships or others, units manufactured by Ford that are sold to other manufacturers, units dist

  30. Slide 30: Q1 2026 Earnings

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Ford Motor Company — Q1 2026 Earnings Presentation on 6ix