Ford Motor — Jul 28, 2026 release

Ford now expects the following for full-year 2026: • Adjusted EBIT of $10.0 billion to $11.0 billion (from $8.5 billion to $10.5 billion) • Adjusted free cash flow of $6.0 billion to $7.0 billion (from $5.0 billion to $6.0 billion), which now includes expected 2026 cash recovery of approximately $500 million of the $1.3 billion IEEPA reimbursement recorded in the first quarter • Capital expenditures of $9.5 billion to $10.5 billion, unchanged from prior guidance By segment, Ford now expects: • Ford Blue EBIT of $5.0 billion to $5.5 billion (from $4.5 billion to $5.0 billion) • Ford Pro EBIT of $7.0 billion to $7.5 billion (from $6.5 billion to $7.5 billion) • Ford Model e loss of approximately $4.0 billion (from loss of $4.0 billion to $4.5 billion); this includes about $1 billion in incremental investment for the Universal Electric Vehicle (UEV) platform and Ford Energy, mostly weighted toward the second half of the year • Ford Credit earnings before taxes above $2.5 billion (from about $2.5 billion) Key assumptions: • U.S. seasonally adjusted annual selling rate (SAAR) of 16.0 million to 16.5 million units • Full-year U.S. industry net pricing up about 0.5% • On track to deliver approximately $1 billion in material and warranty cost reductions, offset by approximately $1 billion of investment in Universal EV and Ford Energy • Novelis year-over-year impact of about $1 billion — a net EBIT tailwind heavily weighted to the second half Conference Call Details At 5 p.m. ET today, Ford an