Ford Motor reported its largest quarterly earnings miss in four years, with adjusted EPS of 13 cents versus 19 cents expected, largely due to unexpected tariff costs and supply disruptions from a Novelis aluminum plant fire.

Despite the miss, automotive revenue came in slightly above expectations at $42.4 billion, and full-year 2025 revenue reached a record $187.3 billion, up 1% from 2024.

The company posted a fourth-quarter net loss of $11.1 billion, its biggest since 2008, though adjusted results exclude $15.5 billion in special charges related to its electric vehicle plans.

For 2026, Ford projects a rebound, with adjusted EBIT of $8–10 billion, free cash flow of $5–6 billion, and capital expenditures of $9.5–10.5 billion, CNBC has reported.

The automaker expects its traditional and fleet businesses to offset losses from its Model e electric vehicle unit, signaling confidence in its underlying business recovery.