Ford Raises 2024 Profit Guidance on Truck and SUV Demand

Key Details Ford Motor Co. increased its full-year earnings forecast to $8.5 billion to $10.5 billion before interest and taxes, up $500 million from previous guidance. The automaker crushed first-quarter expectations with adjusted earnings of 66 cents per share against Wall Street's forecast of 19 cents. Why It Matters Ford's strong results demonstrate the profitability of high-margin pickups and SUVs. The company's traditional Ford Blue division earned $1.94 billion in Q1, a massive jump from just $96 million a year earlier, despite overall U.S. sales declining 8.8%. Cost Pressures Ahead Ford warned that rising commodity costs for steel and aluminum will cut $2 billion from full-year profits, double the previous estimate. The company also benefited from a one-time $1.3 billion boost from the Supreme Court's tariff ruling. Cautious Outlook Ford's measured profit raise suggests management concerns about macroeconomic headwinds. The guidance excludes potential impacts from prolonged Middle East conflict or a U.S. economic downturn, signaling uncertainty ahead for drivers and the broader industry.