Ford Motor Co. Q2 revenue of $50.2 billion but took a net loss of $36 million due to several factors. // Photo courtesy of Ford
Ford Motor Co. in Dearborn has reported record second-quarter 2025 revenue of $50.2 billion, but took a net loss of $36 million due to tariffs, cancellation of an electric vehicle program, a recall, and other factors.
“We recorded our fourth consecutive quarter of year-over-year cost improvement, excluding the impact of tariffs, building on progress we made last year when we closed roughly $1.5 billion of our competitive cost gap in material cost,” says Sherry House, CFO of Ford. “Our balance sheet keeps getting stronger, further enabling our ability to invest in areas of strength. We are remaking Ford into a higher-growth, higher-margin and more durable business — and allocating capital where we can compete, win, and grow.”
Ford’s Q2 revenue of $50.2 billion represents a 5 percent increase from the same period a year ago, which outpaced wholesale growth, according to the automaker. Adjusted earnings before interest and taxes was $2.1 billion, including $0.8 billion of adverse net tariff-related impacts. The company also declared a third-quarter regular dividend of 15 cents per share, payable on Sept. 2 to shareholders of record at the close of business on Aug. 11.
Cash flow from operations in the second quarter was $6.3 billion, and adjusted free cash flow was $2.8 billion. At quarter end, Ford had $28.4 billion in cash and $46.6 billion in liquidity.
Ford President and CEO Jim Farley points toward the performance of its Ford Pro, Ford Model e, and Ford Blue divisions as evidence of the company’s strengths.
“Our second-quarter performance shows the power of the Ford+ plan and continued execution on cost and quality,” Farley says. “Ford Pro is a unique competitive advantage driving both top and bottom-line growth while creating new high-margin revenue streams from software and physical services.”
In the second quarter, Ford Pro generated $2.3 billion in EBIT with a margin of 12.3 percent on $18.8 billion in revenue, the company reports. Software and physical services contributed 17 percent of Ford Pro’s EBIT on a trailing 12-month basis. In the quarter, Ford Pro paid subscriptions grew 24 percent year-over-year to 757,000.
Ford Blue reported $661 million in EBIT, which reflected profitable market share gains, higher net pricing, and cost improvement. This was offset by the non-recurrence of last year’s F-150 stock build following the new-model launch and tariff-related headwinds, Ford says. Segment revenue declined 3 percent to $25.8 billion.
Ford Model e reported a second-quarter EBIT loss of $1.3 billion, a $179 million higher loss than the same quarter a year ago. Second-quarter results reflect net tariff-related cost, strategic investments in next-generation electric vehicles, and expenses related to the launch of Ford’s new battery plant in Marshall. The segment doubled revenue to $2.4 billion; EBIT performance for first-generation products, Mustang Mach-E and F-150 Lightning, was essentially flat year-over-year, excluding the impact of tariffs, underscoring gains in operating leverage and cost reduction, the company reports.
“We continue to improve the efficiency of our Ford Model e business,” Farley says. “We have scheduled an event on Aug. 11 in Kentucky where we will share more about our plans to design and build breakthrough electric vehicles in America.”
Elsewhere, Ford Credit reported second-quarter earnings before taxes (EBT) of $645 million, an 88 percent increase compared to a year ago.
