8-KEarnings & ResultsExhibits & Filings

FORD MOTOR CO 8-K Report, Financial Results (Apr 26, 2011)

Filed April 26, 2011For Securities:FF-PCF-PDF-PB

Summary

Ford Motor Company filed an 8-K on April 26, 2011, to announce its preliminary first-quarter 2011 financial results. The company scheduled two conference calls for the same day to discuss these results with the investment community and fixed income analysts. These calls, hosted by key executives including the CEO and CFO, were intended to provide a detailed review of the company's performance and financial condition for the initial quarter of 2011. The filing also highlights Ford's use of non-GAAP financial measures, such as results "excluding special items" and specific cash flow metrics like "Automotive operating-related cash flow" and "Automotive gross cash." Ford asserts that these adjusted measures are useful for investors by providing a clearer view of ongoing operational performance, separate from non-recurring or specific strategic adjustments. The company explicitly directs investors to an accompanying news release (Exhibit 99) for the detailed financial figures and a comprehensive discussion of these metrics.

Key Highlights

  • 1Ford Motor Company announced preliminary first-quarter 2011 financial results on April 26, 2011, via an 8-K filing.
  • 2Two conference calls were scheduled for April 26, 2011, to present these results to different investor groups (general investment community and fixed income analysts).
  • 3Key executives, including CEO Alan Mulally and CFO Lewis Booth, participated in the calls.
  • 4The filing incorporated by reference a news release (Exhibit 99) containing the detailed financial results and analysis.
  • 5Ford emphasized its use of non-GAAP financial measures, including results 'excluding special items', to provide insight into ongoing operations.
  • 6Specific non-GAAP cash flow metrics, such as 'Automotive operating-related cash flow' and 'Automotive gross cash', were highlighted as useful for investors.
  • 7Information on accessing live calls, webcasts, and replays was provided, along with passcodes and contact numbers.

Frequently Asked Questions

This 8-K filing serves to announce Ford Motor Company's preliminary first-quarter 2011 financial results and to provide details on how investors can access the information and discussions surrounding these results, including conference calls and a referenced news release.

Ford uses these non-GAAP measures because they believe it allows investors to better evaluate the company's results by excluding items related to specific strategic initiatives (like aligning production capacity and costs) or other items not considered indicative of ongoing operational earnings.

These are key cash metrics highlighted by Ford. 'Automotive operating-related cash flow' is presented as the best representation of the Automotive operations' ability to generate cash, including operating-related capital spending. 'Automotive gross cash' includes cash, cash equivalents, and net marketable securities. Ford believes these offer valuable insights beyond standard GAAP cash flow measures.

The detailed financial results and the discussion of non-GAAP measures are found in the news release dated April 26, 2011, which is filed as Exhibit 99 to this 8-K report. This news release is incorporated by reference.