Ford’s EV Division Is Bleeding Cash—And Investors Are Cheering Anyway

Ford Motor Company’s second-quarter 2025 performance paints a picture of a company executing on its strategic ambitions while managing through significant operational headwinds. The automaker posted record quarterly revenue of $50.2 billion, up from $47.8 billion a year earlier, driven by solid demand across its divisions. Adjusted EBIT came in at $2.1 billion, topping Wall Street estimates of $1.9 billion, while adjusted earnings per share were 37 cents versus an expected 33 cents. These strong results came despite mounting tariff-related pressures, which created a $2 billion net headwind for the year, up from prior guidance of $1.5 billion. Notably, Ford absorbed $800 million in tariff costs in Q2 alone, driven by steep hikes in U.S. steel tariffs and new import duties on Japanese and EU vehicles.