CFO Lawler to Affirm Full-Year 2024 Operating Guidance, Review Ford+ Growth Plan at BofA Auto Summit Today
2024年3月26日 - 8:30PM
ビジネスワイヤ(英語)
The Ford+ growth plan is providing customers with the mix of
gas, hybrid and electric personal and commercial vehicles and
services they want, while improving growth, margins and capital
efficiency and reducing cyclicality – prompting the company to
reiterate its expectations for full-year 2024 operating
results.
That’s the summary of what Ford CFO John Lawler will say today
(Tuesday) during fireside-chat remarks at the BofA Securities Auto
Summit. Lawler will speak at 12:10 p.m. ET. His comments will be
webcast “live” and on replay and a transcript of them will be
available afterward, all via shareholder.ford.com.
Lawler will affirm the operating guidance that Ford provided in
early February: adjusted earnings before interest and taxes of $10
billion to $12 billion, adjusted free cash flow of $6 billion to $7
billion, and capital expenditures of $8 billion to $9.5
billion.
He’ll also describe specific achievements within the Ford+ plan
and its three distinct, customer-centered business segments: Ford
Blue for iconic gas and hybrid vehicles; Ford Pro, with tailored
products and services to help commercial customers transform their
enterprises; and Ford Model e, which is developing breakthrough
electric vehicles along with connected, software-enabled
capabilities and experiences that are being applied across the
company’s global product lineup.
Ford plans to report first-quarter 2024 financial results on
Wednesday, April 24.
About Ford Motor Company
Ford Motor Company (NYSE: F) is a global company based in
Dearborn, Michigan, committed to helping build a better world,
where every person is free to move and pursue their dreams. The
company’s Ford+ plan for growth and value creation combines
existing strengths, new capabilities and always-on relationships
with customers to enrich experiences for customers and deepen their
loyalty. Ford develops and delivers innovative, must-have Ford
trucks, sport utility vehicles, commercial vans and cars and
Lincoln luxury vehicles, along with connected services. The company
does that through three customer-centered business segments: Ford
Blue, engineering iconic gas-powered and hybrid vehicles; Ford
Model e, inventing breakthrough EVs along with embedded software
that defines exceptional digital experiences for all customers; and
Ford Pro, helping commercial customers transform and expand their
businesses with vehicles and services tailored to their needs.
Additionally, Ford provides financial services through Ford Motor
Credit Company. Ford employs about 177,000 people worldwide. More
information about the company and its products and services is
available at corporate.ford.com.
Adjusted EBIT and adjusted free cash flow are non-GAAP financial
measures. When we provide guidance for adjusted EBIT and adjusted
free cash flow, we do not provide guidance for net income or net
cash provided by/(used in) operating activities, the respective
most comparable GAAP measures, because they include items that are
difficult to predict with reasonable certainty. See pages 75-76 of
Ford’s Annual Report on Form 10-K for the year ended December 31,
2023, for the definitions of adjusted EBIT and adjusted free cash
flow.
Cautionary Note on Forward-Looking
Statements
Statements included or incorporated by reference herein may
constitute “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements are based on expectations, forecasts, and assumptions by
our management and involve a number of risks, uncertainties, and
other factors that could cause actual results to differ materially
from those stated, including, without limitation:
- Ford is highly dependent on its suppliers to deliver components
in accordance with Ford’s production schedule and specifications,
and a shortage of or inability to acquire key components or raw
materials, such as lithium, cobalt, nickel, graphite, and
manganese, can disrupt Ford’s production of vehicles;
- To facilitate access to the raw materials and other components
necessary for the production of electric vehicles, Ford has entered
into and may, in the future, enter into multi-year commitments to
raw material and other suppliers that subject Ford to risks
associated with lower future demand for such items as well as costs
that fluctuate and are difficult to accurately forecast;
- Ford’s long-term competitiveness depends on the successful
execution of Ford+;
- Ford’s vehicles could be affected by defects that result in
recall campaigns, increased warranty costs, or delays in new model
launches, and the time it takes to improve the quality of our
vehicles and services could continue to have an adverse effect on
our business;
- Ford may not realize the anticipated benefits of existing or
pending strategic alliances, joint ventures, acquisitions,
divestitures, or business strategies;
- Ford may not realize the anticipated benefits of restructuring
actions and such actions may cause Ford to incur significant
charges, disrupt our operations, or harm our reputation;
- Operational information systems, security systems, vehicles,
and services could be affected by cybersecurity incidents,
ransomware attacks, and other disruptions and impact Ford and Ford
Credit as well as their suppliers and dealers;
- Ford’s production, as well as Ford’s suppliers’ production,
and/or the ability to deliver products to consumers could be
disrupted by labor issues, public health issues, natural or
man-made disasters, adverse effects of climate change, financial
distress, production difficulties, capacity limitations, or other
factors;
- Failure to develop and deploy secure digital services that
appeal to customers could have a negative impact on Ford’s
business;
- Ford’s ability to maintain a competitive cost structure could
be affected by labor or other constraints;
- Ford’s ability to attract, develop, grow, and reward talent is
critical to its success and competitiveness;
- Ford’s new and existing products and digital, software, and
physical services are subject to market acceptance and face
significant competition from existing and new entrants in the
automotive and digital and software services industries, and its
reputation may be harmed if it is unable to achieve the initiatives
it has announced;
- Ford’s results are dependent on sales of larger, more
profitable vehicles, particularly in the United States;
- With a global footprint and supply chain, Ford’s results and
operations could be adversely affected by economic or geopolitical
developments, including protectionist trade policies such as
tariffs, or other events;
- Industry sales volume can be volatile and could decline if
there is a financial crisis, recession, public health emergency, or
significant geopolitical event;
- Ford may face increased price competition or a reduction in
demand for its products resulting from industry excess capacity,
currency fluctuations, competitive actions, or other factors,
particularly for electric vehicles;
- Inflationary pressure and fluctuations in commodity and energy
prices, foreign currency exchange rates, interest rates, and market
value of Ford or Ford Credit’s investments, including marketable
securities, can have a significant effect on results;
- Ford and Ford Credit’s access to debt, securitization, or
derivative markets around the world at competitive rates or in
sufficient amounts could be affected by credit rating downgrades,
market volatility, market disruption, regulatory requirements, or
other factors;
- The impact of government incentives on Ford’s business could be
significant, and Ford’s receipt of government incentives could be
subject to reduction, termination, or clawback;
- Ford Credit could experience higher-than-expected credit
losses, lower-than-anticipated residual values, or
higher-than-expected return volumes for leased vehicles;
- Economic and demographic experience for pension and OPEB plans
(e.g., discount rates or investment returns) could be worse than
Ford has assumed;
- Pension and other postretirement liabilities could adversely
affect Ford’s liquidity and financial condition;
- Ford and Ford Credit could experience unusual or significant
litigation, governmental investigations, or adverse publicity
arising out of alleged defects in products, services, perceived
environmental impacts, or otherwise;
- Ford may need to substantially modify its product plans and
facilities to comply with safety, emissions, fuel economy,
autonomous driving technology, environmental, and other
regulations;
- Ford and Ford Credit could be affected by the continued
development of more stringent privacy, data use, data protection,
and artificial intelligence laws and regulations as well as
consumers’ heightened expectations to safeguard their personal
information; and
- Ford Credit could be subject to new or increased credit
regulations, consumer protection regulations, or other
regulations.
We cannot be certain that any expectation, forecast, or
assumption made in preparing forward-looking statements will prove
accurate, or that any projection will be realized. It is to be
expected that there may be differences between projected and actual
results. Our forward-looking statements speak only as of the date
of their initial issuance, and we do not undertake any obligation
to update or revise publicly any forward-looking statement, whether
as a result of new information, future events, or otherwise. For
additional discussion, see “Item 1A. Risk Factors” in our Annual
Report on Form 10-K for the year ended December 31, 2023, as
updated by our subsequent Quarterly Reports on Form 10-Q and
Current Reports on Form 8-K.
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Media T.R. Reid 1.313.319.6683
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