“We're on track to deliver our full year guidance, and we are generating stronger and more consistent cash flow than just a few years ago, evidence that our Ford+ plan is working.”

In context

“ngth of our product portfolio. Despite this revenue growth, EBIT was flat, reflecting primarily higher warranty and manufacturing costs related to the inventory, which was driven by seasonality and the high-volume launches. We remain on track to deliver $2 billion of material, manufacturing and freight efficiencies over the full year, which will partially offset higher labor and product refresh costs. We are seeing emerging headwinds in warranty and inflationary pressures in Turkey, and we are working to mitigate these costs. Now, I have more confidence in today's business than ever. Our strong global product lineup is differentiated and driving continued top-line growth. And we're slowly but surely improving our industrial system and shedding behaviors that have held us back in the past. We're on track to deliver our full year guidance, and we are generating stronger and more consistent cash flow than just a few years ago, evidence that our Ford+ plan is working. Adjusted free cash flow was $3.2 billion in the quarter and $2.8 billion through the first half, resulting in a cash conversion rate of 51%. Our $1 billion increase to adjusted free cash flow guidance for the year underscores our growing confidence in the business. Our balance sheet remains strong with close to $27 billion in cash and $45 billion in liquidity, providing considerable flexibility in a very dynamic environment. I'm also pleased to announce that we declared our third quarter regular dividend of $0.15 per share payable on September 3d to shareholders of record on August 7th. Now let me spend a few minutes summarizing the financial performance of our customer focus segment and highlight how each of them is driving Ford+ and making our business stronger. Ford Pro delivered a 9%”