Ford Motor Co. (NYSE:F) Q3 2020 Earnings Conference Call - Final Transcript

Oct 28, 2020 • 05:00 pm ET


Ford Motor Co. (NYSE:F) Q3 2020 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen. My name is Holly and I'll be your conference operator today. At this time, I would like to welcome you to the Ford Motor Company Third Quarter 2020 Earnings Conference Call. [Operator Instructions] I would now like to turn the call over to Lynn Antipas Tyson, Executive Director of Investor Relations. Lynn, I hand it to you.

Lynn Antipas Tyson

Thank you so much, Holly, and welcome everyone to Ford Motor Company's third quarter 2020 earnings call. Presenting today are Jim Farley, our President and CEO; John Lawler, our Chief Financial Officer and also joining us for Q&A is Marion Harris, CEO, Ford Credit. Jim will have some opening comments. John will talk about our third quarter results and then we'll turn to Q&A.

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

A quick update on our IR events over the next few weeks. On Monday, November 2nd, Credit Suisse will host a fireside chat with John Lawler, Marion Harris and Kumar Galhotra, Ford's President of the Americas and our International Markets Group. And then on November 10th, Stuart Taylor, Executive Director of Enterprise Connectivity will participate in Deutsche Bank's AutoTech virtual conference.

Now I'll turn the call over to Jim Farley. Jim?

James D. Farley

Thanks, Lynn, and hi everyone. First, let me say how humbled I am and what a privilege it is to be the CEO of Ford. My family has been with Ford since 1916 when my grandfather started a Highland Park here in Michigan. And in that moment our family story really started to change for the better. And countless people all over have similar stories about Ford. We're a family company, from the leadership of Bill Ford all the way to the members on our factory floor.

I'm extremely motivated to help build a vibrant and growing Ford that will have a positive effect for generations to come benefiting all of our stakeholders. Now we have assembled a very talented leadership team to get this done, a combination of strong, lifetime and longtime Ford people who truly know our business. But we also have new colleagues bringing very different experiences and know-how and talent to the Company to execute our plan. And we plan to continue to add to this bench with key capabilities in marketing, technology and many other areas.

Over the past several months, I've spoken to many of you. And I believe the plan we now have and have developed and are now executing on aligns