For the full year, Ford will post a net profit of $3.7 billion, less than half the 2017 result.
Adjusted earnings per share are expected to be $1.30 across the year, right at the lower end of its $1.30-1.50 estimate in October.
"Over the last 19 months, we have worked to reshape and transform our company - sharpening our competitiveness, taking actions to improve our profitability and returns, and investing in our future," Ford CEO Jim Hackett said in a statement.
Ford last year announced it would halt production of almost all sedans and small cars in the United States to save $11 billion, and last week announced a massive restructuring of its European operations to boost profitability, including thousands of potential job cuts. It might also scrap the Fiesta, Focus and Mondeo models in Europe, where they are popular.
The earnings figures were released just a day after the automaker announced a global alliance with Germany's Volkswagen to build commercial vans and pickups starting in 2022.
The alliance follows others in the auto industry, which is facing rising costs amid the drive to develop new technologies, as well as changing consumer preferences. Company executives heralded the new alliance with VW as a cost savings move that would boost profitability by 2023.