FORD MOTOR CREDIT COMPANY LLC (NYSE:F) Files An 8-K Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure.
Bob Shanks, Ford Motor Companys executive vice president and
chief financial officer, will host a Lets Chat forum today to
discuss key items of interest to the investment community. Todays
presentation will note that Ford Motor Company (Ford) continues
to expect its total company adjusted pre-tax profit to decline in
2017 compared with 2016, reflecting its planned investments in
emerging opportunities, and improve in 2018.>>Ford
continues to expect results for its core business (i.e., core
Automotive and Ford Credit) to improve through 2018. Ford expect
its core Automotive business to improve both in 2017 and 2018,
but due to lower auction values, we now expect Ford Credits
pre-tax profit to be about $1.5 billion in 2017, down about $300
million from our prior guidance of about equal to 2016.
chief financial officer, will host a Lets Chat forum today to
discuss key items of interest to the investment community. Todays
presentation will note that Ford Motor Company (Ford) continues
to expect its total company adjusted pre-tax profit to decline in
2017 compared with 2016, reflecting its planned investments in
emerging opportunities, and improve in 2018.>>Ford
continues to expect results for its core business (i.e., core
Automotive and Ford Credit) to improve through 2018. Ford expect
its core Automotive business to improve both in 2017 and 2018,
but due to lower auction values, we now expect Ford Credits
pre-tax profit to be about $1.5 billion in 2017, down about $300
million from our prior guidance of about equal to 2016.
Fords effective tax rate (pct.), as well as its adjusted
effective tax rate (pct.), is now expected to be in the high 20s
in 2016.
effective tax rate (pct.), is now expected to be in the high 20s
in 2016.
* * *
Risk Factors
Statements included or incorporated by reference 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:
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:
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Decline in industry sales volume, particularly in the
United States, Europe, or China, due to financial crisis, recession, geopolitical events, or other factors; |
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Decline in Fords market share or failure to achieve growth;
|
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Lower-than-anticipated market acceptance of Fords new or
existing products or services; |
|
Market shift away from sales of larger, more profitable
vehicles beyond Fords current planning assumption, particularly in the United States; |
|
An increase in or continued volatility of fuel prices, or
reduced availability of fuel; |
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Continued or increased price competition resulting from
industry excess capacity, currency fluctuations, or other factors; |
|
Fluctuations in foreign currency exchange rates, commodity
prices, and interest rates; |
|
Adverse effects resulting from economic, geopolitical, or
other events; |
|
Economic distress of suppliers that may require Ford to
provide substantial financial support or take other measures to ensure supplies of components or materials and could increase costs, affect liquidity, or cause production constraints or disruptions; |
|
Work stoppages at Ford or supplier facilities or other
limitations on production (whether as a result of labor disputes, natural or man-made disasters, tight credit markets or other financial distress, production constraints or difficulties, or other factors); |
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Single-source supply of components or materials;
|
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Labor or other constraints on Fords ability to maintain
competitive cost structure; |
|
Substantial pension and postretirement health care and life
insurance liabilities impairing liquidity or financial condition; |
|
Worse-than-assumed economic and demographic experience for
postretirement benefit plans (e.g., discount rates or investment returns); |
|
Restriction on use of tax attributes from tax law ownership
change; |
|
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
regulations resulting in higher costs, cash expenditures, and/or sales restrictions; |
_________________
1 Total company adjusted pre-tax profit is a
non-GAAP financial measure. Ford does not provide guidance on net
income, the comparable GAAP financial measure. Full-year net
income in 2016 through 2018 will include potentially significant
special items that have not yet occurred and are difficult to
predict with reasonable certainty prior to each year end,
specifically pension and OPEB remeasurement gains and
losses.
non-GAAP financial measure. Ford does not provide guidance on net
income, the comparable GAAP financial measure. Full-year net
income in 2016 through 2018 will include potentially significant
special items that have not yet occurred and are difficult to
predict with reasonable certainty prior to each year end,
specifically pension and OPEB remeasurement gains and
losses.
|
Unusual or significant litigation, governmental
investigations, or adverse publicity arising out of alleged defects in products, perceived environmental impacts, or otherwise; |
|
A change in requirements under long-term supply
arrangements committing Ford to purchase minimum or fixed quantities of certain parts, or to pay a minimum amount to the seller (take-or-pay contracts); |
|
Adverse effects on results from a decrease in or cessation
or clawback of government incentives related to investments; |
|
Inherent limitations of internal controls impacting
financial statements and safeguarding of assets; |
|
Cybersecurity risks to operational systems, security
systems, or infrastructure owned by Ford, Ford Credit, or a third-party vendor or supplier; |
|
Failure of financial institutions to fulfill commitments
under committed credit and liquidity facilities; |
|
Inability of Ford Credit to access debt, securitization, or
derivative markets around the world at competitive rates or in sufficient amounts, due to credit rating downgrades, market volatility, market disruption, regulatory requirements, or other factors; |
|
Higher-than-expected credit losses, lower-than-anticipated
residual values, or higher-than-expected return volumes for leased vehicles; |
|
Increased competition from banks, financial institutions,
or other third parties seeking to increase their share of financing Ford vehicles; and |
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New or increased credit regulations, consumer or data
protection regulations, or other regulations resulting in higher costs and/or additional financing restrictions. |
We cannot be certain that any expectation, forecast, or
assumption made in preparing forward-looking statements will
prove accurate, or that any projection will be realized. It is to
be expected that there may be differences between projected and
actual results. Our forward-looking statements speak only as of
the date of their initial issuance, and we do not undertake any
obligation to update or revise publicly any forward-looking
statement, whether as a result of new information, future events,
or otherwise. For additional discussion, see Item 1A. Risk
Factors in our 2015 Form 10-K Report, as updated by our
subsequent Quarterly Reports on Form 10-Q and Current Reports on
Form 8-K.
assumption made in preparing forward-looking statements will
prove accurate, or that any projection will be realized. It is to
be expected that there may be differences between projected and
actual results. Our forward-looking statements speak only as of
the date of their initial issuance, and we do not undertake any
obligation to update or revise publicly any forward-looking
statement, whether as a result of new information, future events,
or otherwise. For additional discussion, see Item 1A. Risk
Factors in our 2015 Form 10-K Report, as updated by our
subsequent Quarterly Reports on Form 10-Q and Current Reports on
Form 8-K.
About FORD MOTOR CREDIT COMPANY LLC (NYSE:F)
Ford Motor Company (Ford) is a global automotive and mobility company. The Company’s principal business includes designing, manufacturing, marketing, financing, and servicing a line of Ford cars, trucks, sports utility vehicles (SUVs), and electrified vehicles, as well as Lincoln luxury vehicles. The Company operates in two sectors: Automotive and Financial Services. The Automotive sector includes North America, South America, Europe, Middle East & Africa, and Asia Pacific segments. Its Financial Services sector includes Ford Credit and Other Financial Services segments. Its vehicle brands include Ford, Ford-Lincoln and Lincoln. The Other Financial Services segment includes holding companies, real estate, and the financing of some Volvo vehicles in Europe. The Company has over 70 plants across the world. Through its wholly owned subsidiary Ford Motor Credit Company LLC (Ford Credit), it provides automotive financing products to and through automotive dealers throughout the world. FORD MOTOR CREDIT COMPANY LLC (NYSE:F) Recent Trading Information
FORD MOTOR CREDIT COMPANY LLC (NYSE:F) closed its last trading session down -0.13 at 11.86 with 56,109,928 shares trading hands.
