Ford Motor Company (NYSE:F) will likely highlight how the auto sector is dealing with changes to electric vehicle tax credits when the company reports third-quarter financial results on Thursday after market close.
Here are the earnings estimates and key items to watch.
Earnings Estimates: Analysts expect Ford to post Q3 revenue of $42.87 billion, down from $43.07 billion in last year's third quarter, according to data from Benzinga Pro.
The company has beaten analyst estimates for revenue in two straight quarters. It also exceeded estimates in seven of the last 10 quarters overall.
Analysts also estimate that Ford’s Q3 earnings per share will come in at 36 cents. That’s down from 49 cents per share in last year's third quarter.
The company has beaten analyst estimates for earnings per share in four straight quarters and beaten estimates in seven of the last 10 quarters overall.
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Key Items to Watch: Analysts have mixed ratings on Ford Motor Company stock heading into the quarterly earnings results.
Here are some of the recent analyst ratings on Ford and their price targets:
- JPMorgan: Maintained Overweight rating, raised price target from $13 to $14
- UBS: Maintained Neutral rating, raised price target from $11 to $12.50
- Jefferies: Upgraded from Underperform to Hold rating, raised price target from $9 to $12
- Wells Fargo: Maintained Underweight rating, raised price target from $8 to $10
One of the key areas analysts will be looking at in the quarterly results will be commentary on electric vehicles.
Ford reported record electric vehicle sales in the third quarter, helped by increased demand as the federal EV tax credit expired. Electric vehicle sales were 85,789 units in the third quarter, up 19.8% year-over-year.
Year-to-date, Ford's EV sales are 242,298 units, up 16.5% year-over-year.
Overall, automotive sales were up 8.2% year-over-year for Ford in the third quarter.
Ford's F-150 Lightning is dominating the electric pickup truck market, which comes as Tesla Inc (NASDAQ:TSLA) sees declining demand for the Cybertruck.
The F-150 Lightning was the best selling electric pickup truck in the third quarter for the U.S. market. The company sold 10,005 F-150 Lightning trucks in the quarter, up 16.5% quarter-over-quarter. This was nearly double the 5,385 Cybertrucks that Tesla sold.
Ford's second quarter saw Model e revenue up 105% year-over-year. This is the company's electric vehicle segment. The segment is an unprofitable business for the company though, which could make this quarterly report all that more important.
With record electric vehicle demand and sales for Ford, analysts and investors will be watching to see if Model 3 segment losses improved and got closer to profitability.
Automotive rival General Motors Company (NYSE:GM) also had record third-quarter EV sales. It reported strong third-quarter financial results beating analyst estimates for revenue and earnings per share. The company raised its full-year adjusted earnings per share guidance after the results.
General Motors is making the move to adjust its EV capacity going forward, citing production goals as being too aggressive after the federal tax credit expiration. Ford will likely be asked if it is still going to be aggressive with its EV goals moving forward.
Tariffs remain another topic of discussion. Ford stated that the net tariff-related headwind was around $2 billion after the Q2 financial results. Analysts and investors will be watching to see if this amount has changed at all over the past three months.
F Price Action: Ford stock is down 0.6% on Wednesday versus a 52-week trading range of $8.44 to $12.80. Ford stock is up 29.5% year-to-date in 2025.
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