Reddit Is Bearish on Ford and the Q4 Numbers Are Hard to Argue With

"Ford posted a $11.10 billion GAAP net loss for the quarter, driven by $10.70 billion in Model e asset impairments and EV program cancellations. An adjusted EPS of $0.13 missed the $0.1738 estimate by 320%, even as revenue beat by a wide margin. Free cash flow for the full year came in at $3.51 billion, down 47.87% year-over-year."

"The company has guided Model e losses of $4.0 billion to $4.5 billion for 2026, with breakeven not expected until 2029. Ford recalled a record 12.9 million vehicles in 2025, followed by a 4.3 million vehicle recall in early 2026 affecting F-Series trucks and Lincoln SUVs. February U.S. sales dropped 5.5% overall, with EV volume down 71%."

"Despite five consecutive years of revenue growth and a commercial vehicle business generating real profit, Ford shares have gained just 27.29% over the past five years. The market is pricing in a structural problem as Ford's EV division keeps bleeding, and retail investors on Reddit are skeptical that the turnaround math ever closes."

Ford reported a $11.10 billion GAAP net loss in Q4 2025, primarily driven by $10.70 billion in Model e asset impairments and EV program cancellations. Adjusted EPS of $0.13 significantly missed estimates, and free cash flow fell 47.87% year-over-year to $3.51 billion. The company projects Model e losses of $4.0-4.5 billion for 2026 with profitability not expected until 2029. Retail investors express strong bearish sentiment citing three concerns: massive EV division losses, record vehicle recalls totaling 17.2 million units across 2025-2026, and declining February U.S. sales with EV volume down 71% while competitors gained market share.

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