Ford (NYSE: F) released its fourth-quarter earnings report after the market closed on Wednesday, beating top and bottom line forecasts. Although its Model e electric vehicle business lost another $5.1 billion last year, CEO Jim Farley promises, “Ford is becoming a fundamentally stronger company.” Here’s a breakdown of Ford’s Q4 2024 earnings.
Ford Q4 2024 earnings preview
Although it sold a record over 97,000 electric vehicles last year, Ford was topped by cross-town rival GM as the number two seller of EVs in the US.
After GM beat Wall St expectations last week with upbeat guidance for 2025, Ford looks to match it. Like GM, Ford will likely face more headwinds this year with Trump expected to end federal EV incentives. He is also threatening to impose tariffs on US trade partners, including Mexico, where the Mustang Mach-E is built.
Although GM doesn’t report separate breakdown for electric vehicles, it said they achieved a “positive variable profit” in Q4 2024.
After losing another $1.2 billion in the third quarter, Ford’s Model e business racked up 3.7 billion in losses through the first nine months of 2024. Ford expects EV losses to reach around $5 billion for the year.
2025 Ford Mustang Mach-E (Source: Ford)
In Q4 2024, Ford is expected to report total company revenue of around $43 billion, down from $44 billion a year ago and $46.2 billion in the third quarter. The company is forecasted to post an adjusted EPS of around $0.33.
Investors will be closely watching Ford’s path to EV profitability and the potential impact of tariffs. Last month, Ford’s US sales fell 6%, while EV sales were up 21%.
Ford Mustang Mach-E (left) and F-150 Lightning (right) (Source: Ford)
Financial breakdown
Ford beat Q4 expectations, posting $48.2 billion in revenue, up $2.2 billion year-over-year (YOY). Ford generated $185 billion in revenue for the entire year, its highest ever.
Q4 2024 Revenue: $48.2 billion vs $43 billion expected.
Q4 2024 Adjusted EPS: $0.39 vs $0.33 expected.
The company reported an adjusted EBIT of $2.1 billion in the quarter, up 103% from Q4 2023. Ford’s Blue and Pro units generated $1.6 billion, while its Model e unit lost another $1.4 billion.
Ford reported an adjusted EBIT of $9 billion for its Pro business for the full year and $5.3 billion for Ford Blue. Its Model e EV business lost $5.1 billion last year. In the fourth quarter, Ford lost about $37,000 on every electric vehicle it sold.
Ford Q4 2024 Model e electric vehicle unit earnings (Source: Ford)
Ford said the higher EV losses were due to pricing pressure, with volume and revenue falling 9% and 35%, respectively. Ford’s aging F-150 Lightning and Mustang Mach-E are facing an influx of new rivals in the US, such as the Tesla Cybertruck and Chevy Equinox EV.
Farley explained that “In 2025, we expect to make significantly more progress on our two biggest areas of opportunity – quality and cost” as it looks to improve profitability.
Q1 2023
Q2 2023
Q3 2023
Q4 2023
Full-Year 2023
Q1 2024
Q2 2024
Q3 2024
Q4 2024
Full-Year 2024
2025 Forecast
Ford Model e EBIT loss
($722 million)
($1.08 billion)
($1.33 billion)
($1.57 billion)
($4.70 billion)
($1.32 billion)
($1.14 billion
($1.22 billion)
($1.39 billion)
($5.07 billion)
($5 billion to $5.5 billion)
Ford Model e EV losses by quarter
Ford expects adjusted EBIT of $7 billion to $8.5 billion in 2025. It’s also forecasting that Model e will lose another $5 to $5.5 billion this year.
Its guidance is slightly lower than expected, given the potential impact of Trump’s imposing tariffs on Canada, Europe, and Mexico.
On the earnings call with investors, Farley said a 25% tariff on imports from Mexico and Canada would have massive impacts, creating billions in losses, but it will continue working with government leaders on a solution.
Ford’s stock fell over 5% on Wednesday’s post-market trading following the report and the potential impact of tariffs.
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Sen. Richard Blumenthal (D-CT) speaks to reporters outside the Senate Chamber of the U.S. Capitol Building on Oct. 1, 2025 in Washington, DC.
Andrew Harnik | Getty Images
Democratic senators on Monday blamed the White House push to fast track artificial intelligence data centers and its attacks on renewable energy for rising electricity prices in certain parts of the U.S.
Sen. Richard Blumenthal of Connecticut, Sen. Bernie Sanders of Vermont and others demanded that the White House and Commerce Department detail what actions they have taken to shield consumers from the impact of massive data centers in a letter sent Monday.
Voters are increasingly feeling the pinch of rising electricity prices. Democrats Mikie Sherrill and Abigail Spanberger campaigned on the issue in the New Jersey and Virgina governors’ races, which they won in landslides last week.
The senators took aim at the White House’s relationship with companies like Meta, Alphabet, Oracle, and OpenAI, and the support the administration has shown for the companies’ data center plans.
The Trump administration “has already failed to prevent those new data centers from driving up electricity prices from a surge of new commercial demand,” the senators wrote. They accused the White House of making the problem worse by opposing the expansion of solar and wind power.
The White House blamed the Biden administration and its renewable energy policies for driving up electricity prices in a statement.
President Donald Trump “declared an energy emergency to reverse four years of Biden’s disastrous policies, accelerate large-scale grid infrastructure projects, and expedite the expansion of coal, natural gas, and nuclear power generation,” White House spokeswoman Taylor Rogers said.
The tech sector’s AI plans have ballooned in size. OpenAI and Nvidia, for example, struck a deal in September to build 10 gigawatts of data centers to train and run AI applications. This is equivalent to New York City’s peak baseline summer demand in 2024.
The scale of these plans have raised questions about whether enough power is available to meet the demand and who will pay for the new generation that is needed. Renewable energy, particularly solar and energy storage, is the power source that can be deployed the quickest right now to meet demand.
Retail electricity prices in the U.S. increased about 6% on average through August 2025 compared with the same period in 2024, according to the Energy Information Administration. Prices, however, can vary widely by region.
Germany is about to become home to Europe’s largest battery storage system – a massive 1 gigawatt (GW) / 4 gigawatt-hour (GWh) project in Jänschwalde, Brandenburg.
LEAG Clean Power GmbH and Fluence Energy GmbH, a subsidiary of US-based Fluence Energy (NASDAQ: FLNC), are teaming up to build the “GigaBattery Jänschwalde 1000.” The four-hour system will use Fluence’s Smartstack technology, its latest large-scale energy storage solution.
Once complete, Europe’s largest battery storage project will play a key role in stabilizing Germany’s grid and storing renewable power for when the sun isn’t shining and the wind isn’t blowing. It’s designed to deliver essential grid services, support energy trading, and boost energy security as the country phases out fossil fuels.
LEAG’s broader “GigawattFactory” plan combines solar and wind farms with flexible power plants and large-scale batteries across Germany’s Lusatian energy region. “By constructing gigascale storage facilities, we’re addressing one of the biggest challenges of the energy transition: ensuring constant power regardless of the availability of renewable energies,” said Adi Roesch, CEO of the LEAG Group.
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Fluence CEO Julian Nebreda described the project as a “milestone for the energy future of Germany and Europe,” adding that it demonstrates how collaboration and cutting-edge technology can “transform the foundation of our economy and our everyday lives.”
The German government recently reaffirmed the importance of storage in building a secure and affordable clean power system. With this 4 GWh giant, LEAG and Fluence are implementing that priority in one of Europe’s most coal-heavy regions.
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The GV90 will be the brand’s largest, most luxurious SUV yet. With its official debut coming up, a production version of the Genesis GV90 was spotted in public for the first time, offering a closer look at the stunning SUV.
The Genesis GV90 is a stunning flagship SUV
Genesis vehicles already have a unique design that’s hard to miss. The big Creste Grille, Two-Line Quad Lamps, and smooth character lines offer a refined, luxurious look, but Genesis is planning to take it to the next level with the GV90.
The GV90 is an “ultra-luxe, state-of-the-art SUV,” according to Genesis. It will be the luxury brand’s new flagship vehicle and first full-size electric SUV.
We got our first look at the flagship SUV last March after Genesis unveiled the Neolun concept at the New York Auto Show.
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The GV90 has been spotted out in public several times now, even flashing high-end features like coach doors and adaptive air suspension, but now, we are finally getting our first look at the production version in real life.
Genesis Neolun ultra-luxury electric SUV concept (Source: Genesis)
A new video from HealerTV shows the production version of the Genesis GV90 in action. Although it’s still covered in camo, you can see a few slight design changes from the concept shown last year.
The headlights and grille appear closer in design to its current vehicles, but other than that, the GV90 looks essentially the same up front as the Neolun concept.
Since it’s still covered, it’s hard to see where the headlights are connected at this point. From the side and rear, the GV90 looks identical to the concept.
Genesis has yet to announce an official launch date, but the GV90 could debut by the end of the year with sales expected to kick off in mid-2026.
Genesis Neolum electric SUV concept interior (Source: Hyundai Motor)
The flagship SUV is rumoured to be the first vehicle to debut on Hyundai’s new eM platform, which it claims will “provide 50% improvement in driving range” compared to its current EVs. It will also serve as a tech beacon, featuring Hyundai’s most advanced connectivity and safety tech.
We will learn official prices and final specs soon, but one thing is for sure: it won’t be cheap. The Genesis GV90 is expected to start at around $100,000, but higher trims could cost significantly more with added features and options.
Genesis is also introducing its first hybrid, the GV80, next year, followed by its first extended-range electric vehicle (EREV) based on the GV70. The EREV is expected to launch in late 2026 or early 2027. There’s also an off-road SUV in the works, which will likely arrive as a 2027 model.
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