Ford raises full-year profit target to $11B

Ford Motor Company raised and narrowed its full-year adjusted EBIT outlook to between $10 billion and $11 billion. This update marks a $1 billion increase at the midpoint. The company cited more efficient operations to help absorb external cost pressures.

The automaker enters the second half of 2026 without repeating the $1.3 billion IEEPA tariff benefit that it recorded in the first quarter. Ford is also budgeting for four quarters of commodity cost impacts this year instead of three. Any softening in raw material prices could offer earnings support.

Ford is also managing disruptions linked to its Novelis aluminum supply. It has absorbed roughly $800 million in temporary Novelis costs year to date and expects full-year costs of approximately $1.5 billion. Even so, the restart of the Novelis hot mill remains on track. Ford expects a net $1 billion EBIT improvement from the recovery, mostly arriving in the second half of the year. United States inventory stood at 52 retail days of supply, slightly under the target range of 55 to 65 days.

Ford shares have gained 11.1% over the past six months, outperforming its industry peer group decline of 4.8%. Over the past 60 days, the Zacks Consensus Estimate for the company's 2026 and 2027 earnings per share rose by 20 cents and 9 cents, respectively.