Summary
Ford Motor Company (F) filed an 8-K on July 24, 2013, to incorporate by reference a news release providing preliminary second quarter 2013 financial results. The company scheduled conference calls for July 24, 2013, to discuss these results with the investment community and fixed income analysts. The filing also detailed the use of non-GAAP financial measures, such as results "excluding special items," which Ford believes are useful for investors to assess ongoing operational performance by removing items not indicative of core earnings, particularly those related to production capacity adjustments. Furthermore, Ford highlighted key cash metrics, including "Automotive operating-related cash flow," "Automotive gross cash," and "net interest," explaining their utility for investors in understanding the cash-generating ability of their automotive operations. The company emphasized that these non-GAAP measures are presented to offer a clearer view of operational performance, distinguishing them from their GAAP counterparts.
Key Highlights
- 1Ford Motor Company filed an 8-K on July 24, 2013, referencing a news release with preliminary Q2 2013 financial results.
- 2Two conference calls were scheduled for July 24, 2013, to discuss the preliminary results with investors and fixed income analysts.
- 3The filing emphasizes the use of non-GAAP financial measures, notably results 'excluding special items,' to provide a view of ongoing operational performance.
- 4Ford believes these non-GAAP measures help investors evaluate results by excluding items related to production capacity adjustments and other non-indicative factors.
- 5Key cash metrics like 'Automotive operating-related cash flow,' 'Automotive gross cash,' and 'net interest' were highlighted for their investor utility.
- 6The company stated that 'Automotive operating-related cash flow' best represents the cash generation ability of its Automotive operations.