"While challenges lie ahead for us in 2007, we're focused on making continuous improvements to our plan, so we can capitalize on opportunities to create and sell more products and save more costs," Mulally said. "Our priorities, combined with our sense of urgency, will continue to transform Ford Motor Company."
Also shared were planning assumptions regarding the industry, operating metrics and profit outlook by business unit.
2007 Planning Assumptions Industry Volumes - U.S. (Mils.) 16.8 - Europe (Mils.) 17.6 U.S. Industry Net Pricing Lower 2007 Operational Metrics Quality Improved Market Share - U.S. Lower - Other Regions Higher Automotive Costs* Lower Cash Flow Negative Capital Spending About $7 billion *At constant volume, mix and exchange; excludes special items Pre-tax Profits by Major Operation 2007 Plan Comparison to 2006 North America Loss South America Profit Europe Profit P.A.G. Profit Asia Pacific and Africa Loss Mazda and Associated Operations Profit Subtotal Automotive Operations Loss Improved Other Automotive (Primarily Interest) Loss Worse Total Automotive Loss Worse Financial Services Profit Worse Pre-Tax Results Excl. Special Items Loss Worse Taxes ~Zero Worse After-Tax Results Excl. Special Items Loss Worse Special Items Loss Improved Net Results Loss Improved CONFERENCE CALL DETAILS
Ford Motor Company [NYSE: F] will release fourth quarter and full year 2006 financial results at 7 a.m. EST on Thursday, Jan. 25. The following briefings will be held after the announcement:
At 9 a.m. EST, Alan Mulally, president and chief executive officer, and Don Leclair, executive vice president and chief financial officer, will host a conference call for news media and analysts to discuss fourth quarter and full year financial results.
Following the earnings call, at 11 a.m. EST, Ford Senior Vice President and Controller Peter Daniel, Ford Vice President and Treasurer Ann Marie Petach, and Ford Motor Credit Company Vice Chairman and CFO K.R. Kent will host a conference call for fixed income analysts and investors.
The presentations (listen-only) and supporting materials will be available on the Internet at www.shareholder.ford.com. Representatives of the news media and the investment community participating by teleconference will have the opportunity to ask questions following the presentations.
Access Information - Thursday, Jan. 25 Toll Free: 800-706-7741 International: 617-614-3471 Earnings: 9:00 a.m. EST Earnings Passcode: "Ford Earnings" Fixed Income: 11:00 a.m. EST Fixed Income Passcode: "Ford Fixed Income" Replays - Available through Thursday, Feb. 1 www.shareholder.ford.com Toll Free: 888-286-8010 International: 617-801-6888 Passcodes: Earnings: 29481628 Fixed Income: 55865600 Safe Harbor/Risk Factors
Statements included 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:
-- Continued decline in market share; -- Continued or increased price competition resulting from industry overcapacity, currency fluctuations or other factors; -- A market shift (or an increase in or acceleration of market shift) away from sales of trucks or sport utility vehicles, or from sales of other more profitable vehicles in the United States; -- A significant decline in industry sales, particularly in the United States or Europe, resulting from slowing economic growth, geo-political events (e.g., an escalation or expansion of armed conflict in or beyond the Middle East) or other factors; -- Lower-than-anticipated market acceptance of new or existing products; -- Continued or increased high prices for or reduced availability of fuel; -- Currency or commodity price fluctuations; -- Adverse effects from the bankruptcy or insolvency of, change in ownership or control of, or alliances entered into by a major competitor; -- Economic distress of suppliers that has in the past and may in the future require us to provide financial support or take other measures to ensure supplies of components or materials; -- Work stoppages at Ford or supplier facilities or other interruptions of supplies; -- Single-source supply of components or materials; -- Labor or other constraints on our ability to restructure our business; -- Worse-than-assumed economic and demographic experience for our postretirement benefit plans (e.g., discount rates, investment returns, and health care cost trends); -- The discovery of defects in vehicles resulting in delays in new model launches, recall campaigns or increased warranty costs; -- Increased safety, emissions, fuel economy or other (e.g., pension funding) regulation resulting in higher costs, cash expenditures, and/or sales restrictions; -- Unusual or significant litigation or governmental investigations arising out of alleged defects in our products or otherwise; -- A change in our requirements for parts or materials where we have entered into long-term supply arrangements that commit us to purchase minimum or fixed quantities of certain parts or materials, or to pay a minimum amount to the seller ("take-or-pay contracts"); -- Inability to access debt or securitization markets around the world at competitive rates or in sufficient amounts due to additional credit rating downgrades, unfavorable capital market conditions, insufficient collateral, greater-than-expected negative operating-related cash flow or otherwise; -- Higher-than-expected credit losses; -- Increased competition from banks or other financial institutions seeking to increase their share of financing Ford vehicles; -- Changes in interest rates; -- Collection and servicing problems related to finance receivables and net investment in operating leases; -- Lower-than-anticipated residual values or higher-than-expected return volumes for leased vehicles; -- New or increased credit, consumer or data protection or other regulations resulting in higher costs and/or additional financing restrictions; and -- Inability to implement the Way Forward plan.