Q3 FY26 · Ended Sep 30, 2026 · View SEC filing
Overhead swallowed the savings in building cars
Cost of sales fell faster than revenue, but selling and administrative expense rose almost as much, so operating income still fell.
For investorsWhat Ford's profit depends on from here
For foundersSelling the financing as well as the product
Operating income fell while income before taxes rose 18.04%, lifted by other income and affiliate earnings, not by selling vehicles.
Net income fell 16.3% only because last year's quarter booked a tax benefit; this quarter recorded a small provision.
Even on a 2.94% operating margin, the quarter left $3.14B of free cash flow after capital spending.
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Business Lens describes Ford Motor Company from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
