Can Ford's Truck and SUV Strength Drive Q3 Earnings Growth?

Ford (F) posted a 6.6% decline in U.S. sales for Q3, but strength in its core truck and SUV lineup is giving bulls something to hold onto heading into earnings.

F-Series, Super Duty, and Maverick Hybrid all posted gains, anchoring the franchise even as the headline number slipped. Software subscriptions topped 1.7 million, up 40% year-over-year, a recurring-revenue datapoint that sits apart from vehicle volume.

The weak spot is electric. EV sales collapsed 80%, with the F-150 Lightning down 97%. Interpretation: the earnings story hinges on whether profitable ICE and hybrid trucks can offset a near-total EV retreat.

Management maintained its 2026 EBIT guidance despite a temporary supplier issue. Holding guidance through a sales decline and a supply disruption signals confidence, though the supplier problem remains a variable.

The EV pain is not Ford's alone. GM also faced EV headwinds, and Toyota did too, though its hybrid strategy proved more resilient. That comparison puts Ford's own hybrid push, led by the Maverick Hybrid gains, in a more favorable light, as interpretation rather than reported fact.