8-KOther Events

FORD MOTOR CO 8-K Report (Dec 22, 2003)

Filed December 22, 2003For Securities:FF-PCF-PDF-PB

Summary

Ford Motor Company (F) filed an 8-K report on December 22, 2003, announcing significant developments for investors. The company released a news release that day detailing new agreements with Visteon and, importantly, an upward revision to its full-year 2003 earnings guidance. This guidance increase reflects improved performance and outlook for the company. The revised guidance excludes special items, offering a view of ongoing operational results. Ford increased its projected earnings per share (EPS) from continuing operations, excluding special items, to a range of $1.05-$1.10, up from the previous $0.95-$1.05. For investors seeking a GAAP-aligned perspective, the net income per share guidance was also adjusted, now projected to be between $0.18-$0.23 per share. The company highlighted the utility of the non-GAAP measure for understanding core operational performance.

Key Highlights

  • 1Ford Motor Company announced new agreements with Visteon.
  • 2The company significantly increased its full-year 2003 earnings guidance.
  • 3Full-year 2003 adjusted EPS guidance (excluding special items) raised to $1.05-$1.10 per share.
  • 4Previous full-year 2003 adjusted EPS guidance was $0.95-$1.05 per share.
  • 5Full-year 2003 GAAP net income per share guidance raised to $0.18-$0.23 per share.
  • 6Ford believes the 'earnings per share excluding special items' measure provides a more relevant view of ongoing operational results.
  • 7A conference call was held on December 22, 2003, to discuss these updates.

Frequently Asked Questions

The primary reason for this 8-K filing is Ford Motor Company's announcement of new agreements with Visteon and a positive upward revision to its full-year 2003 earnings guidance.

Ford has increased its guidance for full-year 2003 earnings per share, excluding special items, from a range of $0.95-$1.05 to a new range of $1.05-$1.10 per share. On a net income basis (GAAP), the guidance is now $0.18-$0.23 per share.

Ford believes that earnings per share excluding special items is a useful measure for investors because it removes items not related to ongoing operating activities, thus providing a clearer picture of the company's core operational performance.

Investors can access replays of the conference call by visiting www.shareholder.ford.com or www.streetevents.com, or by dialing 888-286-8010 (international: 617-801-6888) and using passcode 36338027.