Ford Q1 Earnings Surpass Expectations, Revenues Decline Y/Y

Core Insights - Ford Motor Company reported first-quarter 2025 adjusted earnings per share of 14 cents, surpassing the Zacks Consensus Estimate of breakeven earnings but declining from 49 cents in the same quarter last year [1] - The company's consolidated first-quarter revenues were $40.66 billion, down 5% year over year, while total automotive revenues were $37.42 billion, exceeding the Zacks Consensus Estimate of $35.48 billion but decreasing from $39.89 billion a year ago [1] Financial Performance - Ford suspended its guidance for 2025, anticipating an adverse adjusted EBIT impact of approximately $1.5 billion due to tariff issues [2] - In the Ford Blue segment, total wholesale volume decreased 6% year over year to 588,000 units, with revenues of $21 billion, down 3% year over year but exceeding estimates [3] - The Ford Model e segment saw total wholesale volume rise 213% year over year to 31,000 units, with revenues jumping 967% to $1.2 billion, although it fell short of estimates [4] - The Ford Pro segment experienced a 14% year-over-year decrease in total wholesale volume to 352,000 units, with revenues slumping 16% to $15.2 billion, missing expectations [5] - Revenues from the Ford Credit unit increased 12% year over year to $3.24 billion, with pretax earnings rising 78% to approximately $580 million [6] Financial Position - Ford reported negative adjusted free cash flow of $1.5 billion for the quarter, with cash and cash equivalents totaling $20.9 billion as of March 31, 2025, and long-term debt (excluding Ford Credit) at $16.64 billion [6]