# Ford Motor Company raised its annual earnings outlook after a $1.3 billion tariff refund, but warned of higher aluminum costs and F-150 production disruptions linked to Novelis plant fires.

*business · news · 2026-04-30 · CNBC TV18*

## Key points

- Ford received $1.3 billion in tariff relief due to a Supreme Court ruling in February.
- F-150 inventory has dropped 38% in April due to Novelis plant fires impacting aluminum supply.
- F-Series production fell 12% year-over-year in Q1, deeper than analysts previously anticipated.
- Ford now anticipates net tariff costs of $1 billion this year despite the $1.3 billion refund.
- Ford's Q1 adjusted earnings per share of 66 cents greatly surpassed analysts' 19-cent estimate.

**Companies:** Ford Motor Company, Novelis
**Countries:** United States

[Read the full story on CNBC TV18](https://www.cnbctv18.com/auto/ford-motor-company-lifts-outlook-on-tariff-refund-despite-rising-aluminium-costs-ws-l-19896312.htm)

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