Summary
This Form 8-K filing from Ford Motor Company, dated June 21, 2005, primarily incorporates by reference a press release issued on the same date. This press release provides updated second-quarter and full-year earnings guidance for the company. Investors should note that Ford intends to present earnings per share (EPS) guidance on a basis that excludes special items and discontinued operations. The company justifies this non-GAAP reporting by stating that the EPS measure excluding these items is considered more indicative of ongoing operational performance and thus more relevant to investors. This approach allows for a clearer view of the core business's profitability by isolating the impact of non-recurring or unusual events. Investors are advised to also consider the most directly comparable GAAP measure, which includes special items and discontinued operations, for a complete financial picture.
Key Highlights
- 1Ford Motor Company filed an 8-K on June 21, 2005, to report on other events.
- 2The key event reported is the issuance of a press release on June 21, 2005, containing updated earnings guidance.
- 3The guidance covers both the second quarter and the full fiscal year.
- 4Ford will be reporting earnings per share (EPS) on a basis that excludes special items and discontinued operations.
- 5The company believes this non-GAAP EPS measure is more useful for investors in understanding ongoing operations.
- 6The press release (Exhibit 99) is incorporated by reference into the 8-K filing.
- 7Investors are encouraged to compare the non-GAAP EPS with the GAAP EPS that includes special items and discontinued operations.