CLAIM #23811 · Ford Motor Company (F) · 2023Q2 earnings call · Jul 27, 2023

“the strong demand for our flagship work product is going to fuel our earnings growth for years to come”

Jim Farley · CEO

How to check this claim

Look at: Ford Pro segment EBIT (earnings), annual

It came true if: Ford Pro EBIT higher than prior year for each fiscal year 2023-2026

Where: Ford quarterly/annual earnings report, Ford Pro segment results (10-K/10-Q)

Knowable after: 2026-07-27

In context

“an, disciplined operating system that reaches into every one of our plants, every part we buy, every engineering decision we make. We're making progress, but this is just the start of our culture change. Turning to Pro, which is proving to be a unique strength to Ford. I mean what one of our competitors would get to have Ford Pro? It's a $50 billion commercial business with the potential to become a high-margin, high-multiple hardware, software and service company akin to John Deere. In the quarter, volume, pricing and software subscriptions continue to accelerate as we capture significant pent-up demand across multiple commercial sectors and locations in both North America and in Europe. We are now realizing the full benefits of our new Super Duty. Super Duty sales in Q2 were up 28%, and the strong demand for our flagship work product is going to fuel our earnings growth for years to come. And our brand business also continued to grow in the quarter. And that's before the launch of the all-new version of Ford Pro's other key profit pillar, the one Transit in Europe. Our share of the U.S. 127 commercial truck and van market is over 40% this year so far. That is twice our nearest competitor and brand, twice. And it's a similar story in Europe, where the Transit franchises help make Ford the top-selling commercial brand for 8 years in a row. Ford Pro has all the attributes of the business that is difficult to disrupt. Our combination of services, software, dominant product, dominant market share, upfitting and large dealer physical repair work will not be easy to match. Accordingly, we will continue to shift more investment to fuel Ford Pro's growth and press our advantage wi”

Verify independently

SEC filings for F ↗ · Quote is verbatim from the 2023Q2 earnings call.