Ford Motor Co. (NYSE:F) Q2 2022 Earnings Conference Call - Final Transcript

Jul 30, 2020 • 05:00 pm ET


Ford Motor Co. (NYSE:F) Q2 2022 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen. My name is Sedarius, and I'll be your conference operator today. At this time, I would like to welcome you to the Ford Motor Company Second Quarter 2020 Earnings Conference Call. [Operator Instructions]

At this time, I would like to turn the call over to Lynn Antipas Tyson, Executive Director of Investor Relations.

Lynn Antipas Tyson

Thank you, Sedarius. Welcome everyone to Ford Motor Company's second quarter 2020 earnings call. Presenting today are Jim Hackett, our President and CEO; and Tim Stone, our Chief Financial Officer. Also joining us today for Q&A are Jim Farley, Chief Operating Officer; and Marion Harris, CEO of Ford Credit. Jim Hackett will begin with some color on the quarter, and then Tim will talk about our results in more depth, and then we'll turn to Q&A.

Our results discussed today include some non-GAAP references. These are reconciled to the most comparable U.S. GAAP measure in the appendix of our earnings deck, which can be found along with the rest of our earnings materials at Today's discussion includes forward-looking statements about our expectations. Actual results may differ from those stated, and the most significant factors that could cause actual results to differ are included on Slide 23. In addition, unless otherwise noted, all comparisons are year-over-year. Company EBIT, EPS and free cash flow are on an adjusted basis, and product mix is on a volume weighted basis.

A quick update on two upcoming IR events. First, on Monday, August 3, RBC will host a fireside chat with us. Tim Stone; Hau Thai-Tang, our Chief Product Development and Procurement Officer; and Gary Johnson, our Chief Manufacturing and Labor Affairs Officer will participate. And then on Wednesday, August 15, Kumar Galhotra, President, Americas and International Markets Group, will participate in the Jefferies Industrial Conference.

Now let me turn the call over to Jim Hackett.

Jim Hackett

Thanks, Lynn, and hello to everyone. In a moment, I will share with you how absolutely proud I am of the way our team has performed during the COVID pandemic, which of course, has challenged every aspect of our business. But before I do, I don't want this moment to pass without giving some important perspective on where Ford Motor Company stands relative to racial justice.

I've been heartened, frankly, to see our industry, like other industries, step up in the aftermath of the killing of George Floyd. And of course, hand-in-hand with others, there's a deep outpouring of collective grief and frustration that moved us all very deeply. It was much more than a moment in time that will fade, but rather, we must make it a turning point for our society. Ford is committed to leading from the front with action to enable social mobility and economic success in the African-American community, including programs in which the company has invested for more than a century. The Ford Motor Company Fund, in particular, invests in a broad range of initiatives addressing social justice, racism, inequality and economic opportunity, and we're