Q1 2025 Ford Motor Co Earnings Call Transcript
Key Points
- Ford Motor Co (F) achieved its best first-quarter US pickup sales in over 20 years, indicating strong demand for its vehicles.
- The company delivered $1 billion in EBIT, exceeding expectations of roughly breakeven for the quarter, driven by cost improvements and strong net pricing in North America.
- Ford Pro continues to be a competitive advantage, with strong demand for key products and growth in software subscriptions, which rose by 20% year over year.
- Ford and Lincoln were the most improved brands in J.D. Power's 2025 US Vehicle Dependability Study, highlighting improvements in quality.
- The company is on track to deliver $1 billion in net cost reductions this year, excluding the impact of changes in tariff policy.
- Ford Motor Co (F) suspended its full-year 2025 guidance due to uncertainties related to tariffs and potential industry-wide supply chain disruptions.
- The company estimated a gross adverse EBIT impact of $2.5 billion and a net adverse EBIT impact of $1.5 billion for full-year 2025 due to tariffs.
- Ford experienced a 7% decline in wholesales and a 5% decrease in revenue to $41 billion, partly due to planned downtime at several plants.
- The company faces potential challenges from competitors' responses to tariffs and related market dynamics, which could impact pricing and volume.
- Ford is dealing with uncertainties associated with tax and emissions policy, which could affect future operations and profitability.
Good day, everyone. My name is Layla. I will be your conference operator, today.
At this time, I would like to welcome you to the Ford Motor Company first-quarter 2025 earnings conference call.
(Operator Instructions)
At this time, I would like to turn the call over to Lynn Antipas Tyson, Chief Investor Relations Officer.
Thank you, Layla. Welcome to Ford Motor Company's first-quarter 2025 earnings call.
With me, today, are Jim Farley, President and CEO; Sherry House, CFO; and Kumar Galhotra, Chief Operating Officer.
Joining us for Q&A will be John Lawler, Vice Chair; Andrew Frick, President, Ford Blue and Model e and Interim Head of Ford Pro; Cathy O'Callaghan, CEO of Ford Credit; and Steve Corley, Chief Policy Officer and General Counsel.
Today's discussion includes some non-GAAP references. These are reconciled to the most comparable US GAAP measures in the appendix of our earnings deck. You can find the deck, along with the rest of our
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