Ford halts 2025 projections due to $2.5 billion tariff repercussions.

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<p>The Ford display is seen at the New York International Auto Show on April 16, 2025. Danielle DeVries | CNBC</p>

<p>DETROIT — Ford Motor beat Wall Street's first-quarter expectations but suspended its 2025 financial guidance amid an anticipated $2.5 billion impact this year due to tariffs implemented during the Trump administration. The Detroit automaker stated it expects to mitigate $1 billion of these costs through various remediation actions and adjustments in volume and pricing, resulting in a net impact of $1.5 billion for 2025.</p>

<p>Ford cited "near-term risks, particularly the potential for industrywide supply chain disruptions affecting production" and the chance of future or increased tariffs in the U.S. as reasons for withdrawing its guidance. The anticipated tariff impacts are significantly lower than the $4 billion to $5 billion that General Motors projected due to their higher import levels compared to Ford.</p>

<p>The automotive sector is currently facing 25% tariffs on imported vehicles that were enacted in early April, alongside 25% levies on auto parts noncompliant with the United States-Mexico-Canada Agreement starting Saturday.</p>

<p><strong>Stock Chart Icon</strong><br>Ford stock</p>

<p>Ford indicated that without the tariffs, it was "tracking" toward its earlier guidance, which included adjusted earnings before interest and taxes (EBIT) of $7 billion to $8.5 billion, adjusted free cash flow of $3.5 billion to $4.5 billion, and capital expenditures ranging from $8 billion to $9 billion.</p>

<p>“Our results in the first quarter show that the Ford+ [turnaround] plan is working,” said Ford Chief Financial Officer Sherry House during a media call. “We are transforming this company into a higher growth, higher margin, more capital-efficient, and more durable business.”</p>

<p>The tariff impacts are distributed between imported vehicles and automotive parts, House noted. The company projects U.S. industry sales to be approximately 15.5 million, a decrease of 500,000 units compared to earlier predictions.</p>

<p>While Ford has not publicly detailed any significant changes to its North American manufacturing strategy, it has implemented measures to alleviate tariff costs, including halting U.S. exports to China and adjusting imports from China.</p>

<p>The automaker reported that these adjustments reduced its first-quarter tariff impact of roughly $200 million by 35%. Here’s how Ford performed according to average analysts' estimates compiled by LSEG:</p>

<ul>
    <li>Earnings per share: 14 cents adjusted vs. 2 cents expected</li>
    <li>Automotive revenue: $37.42 billion vs. $36.21 billion expected</li>
</ul>

<p>Ford indicated it will keep investors updated regarding its 2025 guidance during the second-quarter report. For the first quarter, Ford reported a 5% decrease in total revenue compared to last year, totaling $40.7 billion, with adjusted EBIT of $1.02 billion and net income of $471 million. In the same quarter last year, Ford had revenue of $42.8 billion, including $39.89 billion in automotive revenue, with net income of $1.33 billion and adjusted EBIT of $2.76 billion.</p>

<p>Ford's traditional "Blue" operations experienced only a 3% revenue decline but saw a nearly 90% drop in EBIT results to $96 million during the first quarter. Its "Pro" commercial sector reported a 16% revenue fall to $15.2 billion and EBIT results of $1.31 billion, a significant decrease from over $3 billion from the previous year.</p>

<p>The "Model e" electric vehicle segment narrowed its losses from $1.33 billion last year to $849 million in the first quarter this year. The automaker continued to progress in its quality improvements and announced cost reductions, aiming for a $1 billion reduction this year, excluding the effects of tariffs.</p>

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