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Presentation for earnings call July 30, 2020. https://s23.q4cdn.com/799033206/files/doc_financials/2020/q2/Ford-2Q2020-Earnings-Presentation.pdf

 

Highlights.

  • Adjusted FCF of negative $5.3B, down $5.5B, driven by an Adj. EBIT loss, unfavorable timing differences and negative working capital
  • Q2 revenue of $19B, down 50%, driven by lower volume
  • Adjusted EBIT of negative $1.9B, down $3.6B
  • Q2 net income of $1.1B, including $3.5B in special items, primarily gains on transaction with Argo AI and Volkswagen

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Much better results than first predicted.  Tim Stone, Ford's CFO, warned of a possible 5 billion dollar loss earlier this year.  It's nowhere near that.  

 

Stone also said that Ford has gotten 150,000 orders for the Bronco (which I gather is different than reservations). 

 

https://www.detroitnews.com/story/business/autos/ford/2020/07/30/ford-earnings-better-than-expected/5544358002/

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4 hours ago, mackinaw said:

Much better results than first predicted.  Tim Stone, Ford's CFO, warned of a possible 5 billion dollar loss earlier this year.  It's nowhere near that.  

 

Stone also said that Ford has gotten 150,000 orders for the Bronco (which I gather is different than reservations). 

 

https://www.detroitnews.com/story/business/autos/ford/2020/07/30/ford-earnings-better-than-expected/5544358002/

Those results certainly exceeded expectations. I thought forsure they would post a loss for the second quarter.

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4 minutes ago, Oacjay98 said:

Those results certainly exceeded expectations. I thought forsure they would post a loss for the second quarter.

They did but it wasn’t as bad as they thought it would be, at least a lot of the blood letting is behind them.....we hope,

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1 hour ago, jpd80 said:

They did but it wasn’t as bad as they thought it would be, at least a lot of the blood letting is behind them.....we hope,

Yes we sure do hope, especially up here in Canada with the Unifor auto talks just around the corner!

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17 minutes ago, Oacjay98 said:

Yes we sure do hope, especially up here in Canada with the Unifor auto talks just around the corner!

Saying a prayer for you guys, hoping you get some fresh products in the new contract

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39 minutes ago, jpd80 said:

Saying a prayer for you guys, hoping you get some fresh products in the new contract

Thanks brother, hope so!! It’s gonna be interesting to say the least!!

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I

5 hours ago, Oacjay98 said:

Thanks brother, hope so!! It’s gonna be interesting to say the least!!

I read that Canada might get BEV production. Do you also hear this rumour?

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7 hours ago, passis said:

I

I read that Canada might get BEV production. Do you also hear this rumour?

No I haven’t heard that rumor. 

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Posted (edited)
58 minutes ago, passis said:

I keep hearing all this BS about Ford Oakville because of one reporter. FORD has said nothing. Contract talks start in a couple of weeks I will keep everyone in here from the US plants posted. You guys will probably read about it anyways. We are working steady right  now. Between 8 and 10 hours. Parts shortages have reduced production abit. I’m not gonna worry about anything til the contract is laid out on the table.

Edited by Oacjay98

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Since Oakville builds big CUVs and Flat Rock can't, I don't see how Ford can threaten Oakville with closing. Furthermore, Canada has a better handle on this virus as we are the worst in the world. And Mexico is a real hot spot like us with numbers going up. Don't see that Ford has a ton of leverage here. On top of that, CR gives Edge/Nautilus recommended status. So this plant has good reputation for quality. 

 

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40 minutes ago, FordBuyer said:

Since Oakville builds big CUVs and Flat Rock can't, I don't see how Ford can threaten Oakville with closing. Furthermore, Canada has a better handle on this virus as we are the worst in the world. And Mexico is a real hot spot like us with numbers going up. Don't see that Ford has a ton of leverage here. On top of that, CR gives Edge/Nautilus recommended status. So this plant has good reputation for quality. 

 

Why can’t flat rock build CUVs??? I just want to get the contract over with. I agree with your post, hope it all goes well

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1 hour ago, Oacjay98 said:

Why can’t flat rock build CUVs??? I just want to get the contract over with. I agree with your post, hope it all goes well

It's been stated before that the  equipment doesn't have enough room for the taller bodies.

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1 hour ago, jpd80 said:

It's been stated before that the  equipment doesn't have enough room for the taller bodies.

Thanks for the clarification. OAC certainly does this place is 5.4 million square ft and has the room seeing as how like MAP it used to be two separate plants. 

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21 minutes ago, Oacjay98 said:

Thanks for the clarification. OAC certainly does this place is 5.4 million square ft and has the room seeing as how like MAP it used to be two separate plants. 

That's right, OAC had a car plant and a truck plant where MAP used to be SUVs and Wayne was Focus

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35 minutes ago, Oacjay98 said:

Thanks for the clarification. OAC certainly does this place is 5.4 million square ft and has the room seeing as how like MAP it used to be two separate plants. 


It’s not floor space.  There are some structures in the plant that are not tall enough for a truck or utility to pass under.  It could be fixed with a major rebuild.

 

Why on earth you would ever build a plant with such a restriction is mind boggling.  We’re talking about a coupe of feet at most.

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56 minutes ago, akirby said:


It’s not floor space.  There are some structures in the plant that are not tall enough for a truck or utility to pass under.  It could be fixed with a major rebuild.

 

Why on earth you would ever build a plant with such a restriction is mind boggling.  We’re talking about a coupe of feet at most.

I agree with you on that one, I really wonder why they did that.

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Posted (edited)
1 hour ago, jpd80 said:

That's right, OAC had a car plant and a truck plant where MAP used to be SUVs and Wayne was Focus

Yup F-150 was the last truck product there. In the van plant it was the Windstar/Freestar. Now the truck plant is Body 1 Body 2 and Paint shop. Other side is Trim Chassis Body 3 and Final

Edited by Oacjay98

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12 hours ago, akirby said:


It’s not floor space.  There are some structures in the plant that are not tall enough for a truck or utility to pass under.  It could be fixed with a major rebuild.

 

Why on earth you would ever build a plant with such a restriction is mind boggling.  We’re talking about a coupe of feet at most.

 

Well, it was built in the mid to late 1980s, before even the SUV craze. Heck, Ford was still building Escort, Taurus, and Country Squire station wagons!

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1 hour ago, AGR said:

 

Well, it was built in the mid to late 1980s, before even the SUV craze. Heck, Ford was still building Escort, Taurus, and Country Squire station wagons!

 

Looked up the History-the area was developed as a casting site for Ford in 1972 and Mazda built the assembly plant in 1985

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2 hours ago, AGR said:

 

Well, it was built in the mid to late 1980s, before even the SUV craze. Heck, Ford was still building Escort, Taurus, and Country Squire station wagons!


1928 Model A.   Just sayin......

 

image.thumb.jpeg.4fa3fef50c0f1ca11f9532989abe9db0.jpeg

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2 hours ago, silvrsvt said:

Looked up the History-the area was developed as a casting site for Ford in 1972 and Mazda built the assembly plant in 1985

 

The Flat Rock plant was a big deal in southeast Michigan back in the 80's.  This is when the Japanese (Honda and Toyota) were also building plants in the U.S.  Probably because of their close ties to Ford, Mazda chose SE Michigan.  The workers were also represented by the UAW (in contrast to Honda and Toyota).  Haven't been by the plant in years.  

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21 hours ago, jpd80 said:

It's been stated before that the  equipment doesn't have enough room for the taller bodies.


It's not the equipment, it's the building itself. In hindsight Mazda was incredibly short sighted when they designed that plant but 30 years ago nobody would have expected the sedan market to contract as much as it has in the last 5. 

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