Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Ford Motor Co., consolidated income statement (quarterly data)

US$ in millions

3 months ended:	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021
Company revenues excluding Ford Credit	44,891)	39,819)	42,446)	47,185)	46,943)	37,422)	44,936)	43,069)	44,811)	39,890)	43,213)	41,176)	42,427)	39,085)	41,745)	37,205)	37,934)	32,195)	35,305)	33,249)	24,149)	33,565)
Cost of sales	(42,216)	(35,311)	(51,622)	(43,411)	(44,245)	(35,188)	(41,301)	(40,168)	(40,489)	(36,476)	(40,862)	(37,548)	(37,471)	(34,669)	(37,816)	(34,354)	(33,191)	(29,036)	(32,393)	(30,057)	(22,904)	(29,297)
Gross profit (loss)	2,675)	4,508)	(9,176)	3,774)	2,698)	2,234)	3,635)	2,901)	4,322)	3,414)	2,351)	3,628)	4,956)	4,416)	3,929)	2,851)	4,743)	3,159)	2,912)	3,192)	1,245)	4,268)
Ford Credit revenues	3,405)	3,434)	3,444)	3,349)	3,241)	3,237)	3,275)	3,127)	2,997)	2,887)	2,749)	2,625)	2,527)	2,389)	2,254)	2,187)	2,256)	2,281)	2,373)	2,434)	2,603)	2,663)
Selling, administrative, and other expenses	(2,684)	(2,807)	(2,972)	(2,740)	(2,706)	(2,431)	(2,777)	(2,456)	(2,678)	(2,376)	(2,775)	(2,671)	(2,750)	(2,506)	(2,542)	(2,847)	(2,759)	(2,740)	(3,248)	(2,947)	(2,877)	(2,843)
Ford Credit interest, operating, and other expenses	(2,758)	(2,806)	(2,853)	(2,825)	(2,722)	(2,721)	(2,902)	(2,692)	(2,758)	(2,700)	(2,570)	(2,453)	(2,272)	(2,186)	(2,080)	(1,687)	(1,372)	(1,357)	(1,298)	(1,337)	(993)	(1,624)
Operating income (loss)	638)	2,329)	(11,557)	1,558)	511)	319)	1,231)	880)	1,883)	1,225)	(245)	1,129)	2,461)	2,113)	1,561)	504)	2,868)	1,343)	739)	1,342)	(22)	2,464)
Interest expense on Company debt excluding Ford Credit	(357)	(350)	(348)	(321)	(297)	(288)	(295)	(272)	(270)	(278)	(366)	(324)	(304)	(308)	(318)	(321)	(312)	(308)	(438)	(439)	(453)	(473)
Other income (loss), net	449)	773)	113)	560)	577)	496)	1,211)	114)	628)	498)	(1,401)	319)	255)	224)	205)	1,318)	(1,823)	(4,850)	10,850)	852)	1,159)	1,872)
Equity in net income (loss) of affiliated companies	(2,763)	160)	(3,018)	21)	(250)	94)	167)	147)	197)	167)	145)	263)	(124)	130)	(282)	(2,626)	58)	(33)	67)	130)	51)	79)
Income (loss) before income taxes	(2,033)	2,912)	(14,810)	1,818)	541)	621)	2,314)	869)	2,438)	1,612)	(1,867)	1,387)	2,288)	2,159)	1,166)	(1,125)	791)	(3,848)	11,218)	1,885)	735)	3,942)
(Provision for) benefit from income taxes	711)	(361)	3,756)	630)	(570)	(148)	(483)	27)	(605)	(278)	1,344)	(214)	(272)	(496)	93)	195)	(153)	729)	1,055)	(63)	(182)	(680)
Net income (loss)	(1,322)	2,551)	(11,054)	2,448)	(29)	473)	1,831)	896)	1,833)	1,334)	(523)	1,173)	2,016)	1,663)	1,259)	(930)	638)	(3,119)	12,273)	1,822)	553)	3,262)
(Income) loss attributable to noncontrolling interests	(5)	(3)	(10)	(1)	(7)	(2)	(7)	(4)	(2)	(2)	(3)	26)	(99)	94)	30)	103)	29)	9)	9)	10)	8)	—)
Net income (loss) attributable to Ford Motor Company	(1,327)	2,548)	(11,064)	2,447)	(36)	471)	1,824)	892)	1,831)	1,332)	(526)	1,199)	1,917)	1,757)	1,289)	(827)	667)	(3,110)	12,282)	1,832)	561)	3,262)

Financial performance over the analyzed period is characterized by steady top-line growth in automotive revenues interrupted by extreme volatility in net profitability and a significant margin collapse in the latter portion of 2025.

Revenue Trends: Company revenues excluding Ford Credit demonstrate a general upward trajectory, rising from 33,565 million USD in March 2021 to a peak of 47,185 million USD in June 2025. This growth indicates an expansion in market reach or pricing power over the five-year period, although quarterly fluctuations remain present.; Ford Credit revenues show a more stable and consistent growth pattern, increasing steadily from approximately 2,663 million USD in early 2021 to 3,405 million USD by June 2026, providing a consistent secondary revenue stream.
Gross Profit and Cost Management: Cost of sales generally tracked with revenue growth until September 30, 2025, where costs spiked to 51,622 million USD, exceeding the quarterly revenue of 47,185 million USD. This resulted in a severe negative gross profit of 9,176 million USD for that specific period, representing a critical deviation from the historical trend of positive gross margins.; Outside of the September 2025 anomaly, gross profits fluctuated between approximately 1,200 million USD and 4,900 million USD, suggesting a baseline margin that struggled to scale proportionally with revenue increases.
Operating Performance: Operating income exhibits high volatility. While the company achieved peaks of 2,868 million USD in June 2022 and 2,461 million USD in June 2023, it faced a substantial operating loss of 11,557 million USD in September 2025, mirroring the collapse in gross profit.; Selling, administrative, and other expenses remained relatively controlled, generally fluctuating between 2,300 million USD and 3,200 million USD, indicating that the primary drivers of profitability volatility were cost of sales and non-operating items rather than overhead growth.
Net Income and Non-Operating Factors: Net income attributable to Ford Motor Company is marked by extreme outliers. A significant peak occurred in December 2021 with a net income of 12,282 million USD, which was heavily driven by "Other income, net" totaling 10,850 million USD, rather than core operational performance.; The company experienced severe losses in the latter stages of the data set, most notably a net loss of 11,064 million USD in September 2025 and a loss of 1,327 million USD in June 2026. These losses were exacerbated by negative equity in the net income of affiliated companies, which reached a loss of 3,018 million USD in September 2025 and 2,763 million USD in June 2026.

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Ford Motor Co. (NYSE:F)

Income StatementQuarterly Data

Income Statement
Quarterly Data