Ford $F lifts 2026 EBIT guide to $10B-$11B after Q2 beat

$10.0B-$11.0B is Ford Motor's new 2026 adjusted EBIT range after a Q2 report that paired stronger adjusted profit with a GAAP loss. In its July 28 earnings release, Ford $F reported Q2 revenue of $48.3B, adjusted EBIT of $2.5B, adjusted EPS of $0.42, operating cash flow of $4.3B, and adjusted free cash flow of $2.1B.

The guidance change is the market-moving number. Ford's prior adjusted EBIT range was $8.5B-$10.5B, so the new midpoint moves from $9.5B to $10.5B. Adjusted free cash flow guidance also rose to $6.0B-$7.0B from $5.0B-$6.0B. The release says the new cash-flow outlook includes about $500M of expected 2026 cash recovery from the $1.3B IEEPA reimbursement recorded in Q1.

Metric | Q2 2026 | YoY change
Revenue | $48.3B | Down 4%
Adjusted EBIT | $2.5B | Up $0.4B
Net income / loss | -$1.3B | Down $1.3B
Adjusted EPS | $0.42 | Up $0.05

The GAAP loss matters because it shows where the beat came from. Ford booked $4.2B of pre-tax special-item charges, including a $3.6B largely non-cash charge tied to the disposition of the BlueOval SK joint venture and $0.5B linked to EV program cancellations. Ford Blue generated $1.1B of EBIT on $26.1B of revenue, while Ford Pro produced $1.7B of EBIT on $17.8B of revenue. Ford Model e lost $919M on $1.0B of revenue.

CNBC's RSS item placed the release in the July 28 market window. The next check is Ford's 5 p.m. ET earnings call and whether management keeps the $9.5B-$10.5B capital spending plan unchanged while absorbing the second-half investment in the Universal Electric Vehicle platform and Ford Energy.

Not investment advice. Verify all figures with primary sources before acting.