Ford Motor Company will report its second-quarter financial results after market close on Tuesday, with analysts projecting a decline in both revenue and earnings per share compared to the previous year. The company is expected to report revenue of $45.26 billion, down from $46.94 billion in last year’s second quarter, according to data from Benzinga Pro. Earnings per share are forecast at 34 cents, lower than the 37 cents per share recorded in the same period last year. Despite the projected contraction in top-line figures, Ford has beaten analyst estimates for revenue in five straight quarters and for earnings per share in seven of the last 10 quarters, including the most recently reported first quarter.

Analyst Ratings and Price Targets

Several major financial institutions have recently adjusted their outlooks on Ford stock, reflecting renewed confidence in the automaker’s strategic pivot toward profitability. Jefferies upgraded Ford from Hold to Buy, raising its price target from $14.5 to $17.5 on Monday. JPMorgan maintained an Overweight rating while increasing its price target from $15 to $16. BNP Paribas and Barclays both maintained Neutral and Equal-Weight ratings, respectively, but raised their price targets from $13 to $14.

Technical Outlook and Market Position

From a trend standpoint, Ford is trading above its major moving averages, sitting 5.3% above the 20-day SMA ($13.98) and 10.9% above the 200-day SMA ($13.27), which keeps the intermediate uptrend intact even after the pullback from May’s highs. The catch is the shorter-term posture is still a bit choppy, with the 20-day SMA below the 50-day SMA (a bearish crossover that can cap near-term follow-through).

Momentum is leaning constructive: MACD is above its signal line and the histogram is positive, which typically means downside pressure is easing and buyers are regaining control versus the prior downswing. Zooming out, the golden cross in June (50-day SMA over the 200-day SMA) supports the idea that dips are being bought within a broader uptrend, even if the stock still has work to do to reclaim May’s swing-high area. Key resistance sits at $15.00, while key support is at $13.00.

Key Operational Metrics

Investors are closely watching Ford’s operational performance amid a significant shift in its electric vehicle strategy. The company previously reported second-quarter deliveries of 522,811 vehicles in the United States, representing a 10% year-over-year decline. Electric vehicle unit sales fell sharply by 40.7% year-over-year to 9,746 units. This reduction aligns with Ford’s decision to exit production of many electric vehicles as it resets its plans to launch a $30,000 electric pickup truck, targeting a 2027 launch date with a focus on low-cost vehicles and profitability.

With fewer electric vehicles for sale, operating profits and margins have improved due to reduced losses in the Ford EV segment. Ford stock has hit all-time highs in May and remains up 8.3% year-to-date in 2026. This performance outpaces General Motors, which is up 5.7% year-to-date, and Tesla Inc, which is down 29.6%. As of Tuesday morning, Ford stock traded at $14.93, up 1.70% for the day, within a 52-week range of $10.68 to $17.78.

What the Numbers Show

The divergence between declining delivery volumes and improving margin expectations highlights the impact of Ford’s strategic retreat from high-loss EV segments. While total US deliveries dropped 10%, the sharp 40.7% contraction in EV sales suggests a deliberate portfolio optimization rather than broad demand weakness. Analysts appear to be pricing in this structural shift, as evidenced by multiple price target increases despite the expected revenue decline. The upcoming earnings report will clarify whether this focus on profitability over volume growth can sustain investor momentum against peers like General Motors and Tesla.

Ford Motor Company and Geely Automobile Holdings have agreed to form a manufacturing joint venture at Ford's Valencia, Spain, plant to build multi-energy passenger vehicles for the European market. The partnership, announced on July 23, 2026, aims to combine scale and factory utilization to address intense global competition, cost pressure, and tightening regulation in Europe. By pooling production volume, the companies intend to lower the cost of every vehicle built at the Valencia plant while delivering low- and zero-emission vehicles.

Pending regulatory approvals, the joint venture will begin operations in the first half of 2027, with the first new vehicles scheduled to roll off the line in 2028. Under the proposed ownership structure, Ford will own 66% of the new entity and Geely Auto 34%. The Valencia plant, which has a potential annual capacity of about 500,000 vehicles, will continue to produce the Ford Kuga uninterrupted until the new models launch.

The collaboration will produce a lineup of Ford and Geely vehicles tailored for European drivers. Ford will manufacture a new member of the Bronco family and an all-new multi-energy crossover, jointly developed with Geely, both starting in 2028. Geely Auto plans to produce two electric SUVs at the facility, with the first models rolling off the production line in 2028. The venture supports Ford's goal to bring five new passenger vehicles to European showrooms by 2029 and accelerates Geely Auto's European expansion.

Vehicle Production Schedule

Strategic Impact

The joint venture is expected to secure the future of the Valencia plant, provide long-term stability, and create potential for high-tech manufacturing job growth. Alex Nan, Vice President of Geely Auto Group, emphasized the commitment to delivering vehicles with industry-leading features and quality, actively contributing to Europe's green future. Jim Baumbick, President of Ford of Europe, highlighted the partnership as a step toward building a flexible, cost-effective industrial system to match the industry's new cost benchmark.

The collaboration builds on a relationship dating back to 2010, when Ford sold Volvo Cars to Geely. Both companies share a commitment to quality, cost-efficient sourcing, and continuous improvement. The venture aligns with Geely Auto's international expansion, following overseas sales of 474,228 vehicles in the first half of the year, and Ford's strategy of using partnerships to compete with speed, efficiency, and scale in Europe.