Ford Motor is set to report earnings after the bell. Here’s what Wall Street expects

Ford Motor is set to report its second-quarter earnings after the markets close Wednesday as investors watch for any changes to its full-year guidance, which the automaker suspended in May due to President Donald Trump’s auto tariffs.

Ford at that time predicted a $2.5 billion impact from tariffs this year but said it would be able to offset $1 billion of that total through mitigation efforts.

Trump’s 25% tariffs on imported vehicles and many auto parts remain in effect. While the Trump administration has announced some country-specific deals and made changes to its auto-related levies — including reimbursing automakers for some U.S. parts and reducing the “stacking” of tariffs on one another for the industry — automakers are still grappling with the tariff-induced effect on their bottom lines.

Ford CEO Jim Farley said this spring that those changes were helpful, but more actions were needed.

Ford’s estimated tariff impact is notably less than what its crosstown rival General Motors predicts, as Ford has a larger U.S. footprint and imports fewer vehicles than GM. Last week, GM reiterated that it expects $4 billion to $5 billion in tariff impacts in 2025. In the second quarter alone, GM said it saw a $1.1 billion hit.

Here’s what Wall Street expects, based on average analysts’ estimates compiled by LSEG.

• Earnings per share: 33 cents adjusted
• Automotive revenue: $43.21 billion expected

Those results would mark a 3.7% decrease in revenue compared with the same period a year earlier and a 29.8% drop in adjusted earnings per share. Ford’s second quarter of 2024 included $44.81 billion in automotive revenue, net income of $1.83 billion and adjusted earnings before interest and taxes of $2.76 billion.

Without tariffs, Ford said back in May that it was tracking toward its initial guidance that included adjusted earnings before interest and taxes of $7 billion to $8.5 billion, adjusted free cash flow of $3.5 billion to $4.5 billion and capital expenditures between $8 billion and $9 billion.

Ford saw strong sales for the second quarter of 2025, totaling 612,095 vehicles, or a 14.2% increase from a year ago. Its electrified vehicle sales totaled 82,886 during the quarter, up 6.6% from 2024. Its pure EVs saw a 31.4% drop, while hybrids were up 23.5%.

Investors will be watching for any updates on Ford’s EV plans, especially its “Model e” electric vehicle business, as Trump’s new tax-and-spending bill is set to end tax credits for new and used EVs after Sept. 30.

Quality issues have also been in the spotlight for Ford recently, as the automaker announced a recall of more than 694,000 crossover SUVs, on top of another recall of 850,000 vehicles due to safety concerns this month.

Ford stock is up about 12% year to date.

This is developing news. Please check back for updates.