Ford’s second quarter performance drew a positive market response, as the company exceeded Wall Street’s expectations for both revenue and non-GAAP profit. Management attributed these results to robust sales momentum in its Ford Pro commercial segment, strategic cost improvements, and increased demand for hybrid and electric vehicles. CEO Jim Farley highlighted that Ford’s “customer-led investment strategy in Ford Pro and improving operational efficiencies” were key contributors, while the company also pointed to successful pricing strategies and fresh product launches like the new Expedition and Navigator. Despite facing headwinds from tariffs, Ford’s operational discipline and diversified product lineup were emphasized as drivers of growth.
Is now the time to buy F? Find out in our full research report (it’s free).
Ford (F) Q2 CY2025 Highlights:
- Revenue: $50.18 billion vs analyst estimates of $46.55 billion (5% year-on-year growth, 7.8% beat)
- Adjusted EPS: $0.37 vs analyst estimates of $0.33 (11.1% beat)
- Adjusted EBITDA: $3.57 billion vs analyst estimates of $3.48 billion (7.1% margin, 2.7% beat)
- Operating Margin: 1%, down from 3.9% in the same quarter last year
- Sales Volumes rose 3.8% year on year (2.1% in the same quarter last year)
- Market Capitalization: $44.77 billion
While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention.
Our Top 5 Analyst Questions From Ford’s Q2 Earnings Call
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Emmanuel Rosner (Wolfe Research) probed the drivers of improved guidance despite tariff headwinds. CFO Sherry House attributed this to accelerated cost reductions in manufacturing and supplier negotiations, saying, “We’ve seen it in manufacturing efficiency and our negotiated cost for parts.”
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Dan Levy (Barclays) asked about the sustainability of recent market share gains given changing tariffs. President Andrew Frick stated Ford expects to “carry that performance into the second half” due to strong product segments and stable pricing.
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Mark Delaney (Goldman Sachs) questioned Ford’s ability to balance emission policy opportunities with competitive EV offerings. CEO Jim Farley said Ford is “radically reengineering” its EV platform to compete globally, especially with Chinese manufacturers, while leveraging LFP battery technology.
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Colin Langan (Wells Fargo) pressed on how record recall volumes affect cost improvements. CEO Jim Farley clarified that most recalls are software-related and addressed by OTA updates, which are “over 95% less costly than physical repairs.”
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Edison Yu (Deutsche Bank) requested more detail on pricing trends in commercial vehicles. Frick responded that full-size pickups remain strong, but competitive pressure in the van segment has stabilized and is expected to hold steady for the rest of the year.
Catalysts in Upcoming Quarters
Looking ahead, the StockStory team will closely monitor (1) Ford’s ability to sustain cost improvements and margin recovery through material and warranty savings, (2) the adoption and profitability of its next-generation EV and hybrid models, and (3) the impact of evolving trade and emissions policy developments on product mix and capital allocation. Progress in fleet management and software-driven services will also be key markers of success.
Ford currently trades at $11.25, up from $10.91 just before the earnings. At this price, is it a buy or sell? See for yourself in our full research report (it’s free).
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