Summary of Key Points Core Viewpoint - The automotive industry, particularly Ford, is facing significant financial impacts due to tariffs, with expectations of continued high costs in the coming years. Group 1: Tariff Costs - Ford paid $2 billion in tariffs in 2025 and anticipates similar expenses in 2026 [1] - General Motors reported $3.1 billion in tariff costs for 2025 [6] - Stellantis incurred 1.2 billion euros (approximately $1.4 billion) in tariffs in 2025 and expects to pay 1.6 billion euros (about $1.9 billion) in 2026 [6] Group 2: Impact of Tariffs - The automotive industry is projected to face a combined $7 billion tariff-related hit to earnings in 2025, affecting both automakers and their suppliers [8] - The imposition of tariffs has led to production suspensions, such as Stellantis halting certain models in Canada, and Ford launching an employee discount initiative to mitigate consumer costs [7] - AutoNation reported a 10% decline in same-store new vehicle sales and a 5% decline in used vehicle sales, attributed to consumers purchasing vehicles earlier in anticipation of tariffs [9] Group 3: Expectations and Adjustments - Ford's tariff relief program was expected to be retroactive to May but was later confirmed to only apply from November, resulting in an additional $900 million in tariff costs [2] - The automotive industry is experiencing supply chain disruptions and increased product prices due to the tariffs, impacting cash flow for thousands of suppliers [8]

Core Viewpoint - Lucky Minerals Inc. has announced amendments to its Option Agreement, extending the deadlines for completing the transaction and clarifying terms related to the acquisition of mineral claims [1][2][3]. Group 1: Option Agreement Amendments - The Outside Date for completing the transaction has been extended from April 30, 2025, to June 30, 2025, and subsequently to August 31, 2025, and then to October 31, 2025 [1][2][3]. - The Option Agreement has been clarified through multiple amending agreements to ensure all parties understand their obligations [1][2][3]. Group 2: Mineral Claims Transfer - Fire Gold Resources Inc. transferred approximately 135 mineral claims to Patricia Lafontaine, with 46 claims allowed to lapse as they were not significant to the acquisition [4]. - As of April 28, 2025, Patricia Lafontaine is the sole holder of the transferred claims under the amended Option Agreement [4]. Group 3: Financial Obligations and Payments - The Company has made various cash payments under the Option Agreement, including $20,000 for work expenditures completed prior to June 30, 2025, and additional payments totaling $95,000 for various agreements and fees [5][6][7]. - The Company is required to issue a maximum of 7,500,000 shares at a floor price of $0.10, pay $750,000, and incur $4,000,000 in expenditures to complete the acquisition [8]. Group 4: Regulatory Approvals and Funding - The completion of the transactions is subject to receiving all required regulatory approvals [9]. - The Company is completing a private placement for aggregate gross proceeds of $1,080,000, with estimated allocations of $800,000 for working capital and debt reduction, and $200,000 for property-related expenses [9].

Core Insights - Ford Motor Company reported a revenue of $42.5 billion for the quarter ended December 2025, reflecting a decrease of 5.4% year-over-year, while EPS was $0.13, down from $0.39 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate of $41.16 billion by 3.27%, but the EPS fell short of the consensus estimate of $0.17 by 22.2% [1] Financial Performance Metrics - Wholesale Units for Ford Blue were 712 thousand, surpassing the average estimate of 636.9 thousand; Ford Pro reported 334 thousand, slightly below the estimate of 345.33 thousand; and Ford Model e had 37 thousand, below the estimate of 40.16 thousand [4] - Revenues excluding Ford Credit were $42.45 billion, exceeding the four-analyst average estimate of $40.54 billion, but represented a year-over-year decline of 5.5% [4] - Ford Credit revenues were $3.4 billion, slightly below the average estimate of $3.44 billion, showing a year-over-year increase of 4.2% [4] - External revenues for Ford Blue were $26.2 billion, exceeding the two-analyst average estimate of $23.57 billion, but down 3.9% year-over-year; Ford Pro revenues were $14.9 billion, below the estimate of $15.04 billion, reflecting an 8.3% decline; and Ford Model e revenues were $1.3 billion, above the estimate of $1.22 billion, down 8.1% year-over-year [4] - Adjusted EBIT for Ford Credit was $701 million, exceeding the average estimate of $573.75 million; Ford Blue's adjusted EBIT was $727 million, below the estimate of $779.3 million; Ford Pro's adjusted EBIT was $1.23 billion, below the estimate of $1.43 billion; and Corporate Other reported an adjusted EBIT of -$406 million, better than the estimate of -$540.48 million [4] Stock Performance - Ford Motor's shares have returned -3.1% over the past month, while the Zacks S&P 500 composite remained unchanged; the stock currently holds a Zacks Rank 1 (Strong Buy), indicating potential outperformance in the near term [3]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K ☑ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2025 or ☐ Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from __________ to __________ Commission file number 1-3950 Ford Motor Company (Exact name of Registrant as specified in its charter) 313-322-3000 (Registrant's telephone number, in ...

Group 1 - BYD has filed a lawsuit against the U.S. government to reclaim tariffs imposed on imported materials, claiming significant costs for its operations in the U.S. [2] - Over 1,000 companies, including major players like Costco and Toyota, have initiated similar lawsuits against the U.S. government regarding tariffs [2]. - NIO's CEO Li Bin emphasized the importance of optimizing the CBU mechanism to maximize efficiency and minimize costs in the company's operations [6]. Group 2 - Ford's global sales fell by approximately 2% to around 4.4 million units, while BYD's sales reached 4.6 million units, marking a significant shift in the automotive market [6]. - BYD aims to increase its export volume to 1.3 million units in 2025, following a successful year of expansion in Europe, South America, and Asia [6]. - NIO plans to implement a "store partner" program to enhance operational efficiency and market responsiveness, allowing store managers greater decision-making power [6]. Group 3 - The European Union has approved Google's acquisition of cybersecurity startup Wiz for $32 billion, marking Google's largest acquisition to date [9]. - Apollo Global Management is nearing a $3.4 billion loan agreement to finance the purchase of NVIDIA chips for Elon Musk's xAI [10]. - Alibaba's DAMO Academy has released an open-source foundational model for embodied intelligence, RynnBrain, enhancing its AI capabilities [10]. Group 4 - The Shanghai government has opened over 5,200 kilometers of autonomous driving test roads, with plans to expand the testing area further [17]. - Toyota and Nissan reported sales increases in China for January, while Honda's sales continued to decline due to delays in new electric vehicle launches [17]. - The launch of the Robotaxi ride-hailing service by Alipay indicates a growing trend towards automated transportation solutions in urban areas [15].

福特汽车(F.US)发布了2024年以来的首次不及预期的季度利润。财报显示，福田汽车（600166）四季度营收同比下降5%至459亿美元，调整后每股收益为 0.13美元，市场平均预期0.18美元。 福特汽车预计，在去年年底承受了一笔意外的关税账单后，2026年的利润将实现大幅增长。四季度调整后的息税前利润(EBIT)为10亿美元。 该公司预计2026年调整后的息税前利润(EBIT)将达到80亿至100亿美元，高于2025年的68亿美元。福特业绩展望的中值略高于汇总的分析师平均预期值(88.6 亿美元)。 豪斯表示，如果没有12月下旬的那笔关税账单，福特去年的调整后息税前利润本应为77亿美元。 首席财务官雪莉.豪斯周二表示，关税条款的一项意外变动使福特损失了去年预期的约9亿美元储蓄。特朗普政府于12月23日就此事通知了福特，这实际上使 福特的关税支出翻了一番，达到20亿美元。 福特预计今年调整后收益为80亿至100亿美元 豪斯表示，"我们在年底很晚的时候才收到特朗普政府的通知，告知我们一项关于汽车制造商如何削减关税支出的意外变动，""由于沟通较晚，我们得知将 无法获得与此相关的9亿美元收益。" 尽管福特正在应对 ...

分组1 - Ford Motor Company reported quarterly earnings of $0.13 per share, missing the Zacks Consensus Estimate of $0.17 per share, and down from $0.39 per share a year ago, representing an earnings surprise of -22.20% [1] - The company posted revenues of $42.5 billion for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 3.27%, but down from year-ago revenues of $44.9 billion [2] - Ford Motor has surpassed consensus EPS estimates three times over the last four quarters and topped consensus revenue estimates four times in the same period [2] 分组2 - The stock has gained about 3.6% since the beginning of the year, outperforming the S&P 500's gain of 1.7% [3] - The current consensus EPS estimate for the coming quarter is $0.31 on revenues of $39.81 billion, and for the current fiscal year, it is $1.53 on revenues of $170.89 billion [7] - The Zacks Industry Rank for Automotive - Domestic is currently in the top 36% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]

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比亚迪去年的全球销量首次超越福特汽车，排名升至全球第六。福特去年全球批发销量下降约2%，降 至约440 万辆；而比亚迪公布的年度销量为460 万辆。福特虽然在美国市场销量增长，但在欧洲、尤其 是中国市场失去了阵地，被比亚迪、小米及吉利等凭借高性价比、高科技的电动车（EV）夺走了份 额。 比亚迪同时也在欧洲、南美和亚洲市场取得了突破，其2025年的出口量达到105万辆。该公司目标 是在今年将这一数字提升至130万辆。全球范围内，丰田汽车连续第六年蝉联冠军，其全球销量增长 4.6%，达到1130万辆。 ...

Financial Data and Key Metrics Changes - The company reported $187 billion in revenue for the year, with a $6.8 billion adjusted EBIT, which includes a $2 billion headwind from Novelis fires and tariffs [5][6] - The adjusted EBIT would have been $7.7 billion without the one-time tariff impact [6] - Free cash flow for the year was $3.5 billion, ending with nearly $29 billion in cash and $50 billion in liquidity [15] Business Line Data and Key Metrics Changes - Ford Pro generated over $66 billion in revenue with an EBIT of $6.8 billion, maintaining a double-digit margin despite various challenges [16] - Model E saw a revenue growth of 73% and volume growth of 69%, although it still reported a $4.8 billion EBIT loss [17] - Ford Blue's revenue was roughly flat, with EBIT of $3 billion, supported by lower warranty costs and growth in software and services [19] Market Data and Key Metrics Changes - U.S. market share increased to 13.2%, the best performance in six years [5] - Ford Pro's Class 1 through 7 market share in the U.S. is over 42%, while in Europe, it has been the number one commercial brand for 11 consecutive years [9] - The company expects a U.S. SAAR of $16-$16.5 million in flat industry pricing for 2026 [20] Company Strategy and Development Direction - The company is focusing on affordable EVs through a Universal EV Platform, targeting high-volume segments [12] - Ford Energy is seen as a strategic business to diversify revenue and reduce risks in the core automotive sector [12] - The Ford Plus strategy aims for an 8% adjusted EBIT margin by 2029, with a disciplined approach to capital allocation [12][60] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving year-over-year profit improvements driven by a richer Ford Blue mix and Ford Pro growth [11] - The company anticipates a more stable policy environment and expects to absorb about $1 billion in higher commodity prices due to inflation [21] - Management highlighted the importance of customer choice and the need to adapt to changing market conditions [37] Other Important Information - The company plans to invest $1.5 billion in Ford Energy as part of its capital expenditures for 2026 [20] - Ford Credit delivered a full-year EBT of $2.6 billion, reflecting a 55% increase year-over-year [19] - The company is targeting another $1 billion in industrial cost improvements [11] Q&A Session Summary Question: Can you unpack the pieces on the market factors driving the year-over-year increase? - Management explained that the $1 billion improvement from Novelis is expected to be non-recurring, with additional benefits from regulatory changes and industrial cost improvements [30][32] Question: How is the investment in EV and AV being approached? - Management emphasized a focus on the Universal EV Platform and hybrid solutions, aiming for capital efficiency and customer demand alignment [36][37] Question: Can you clarify the Novelis impact and aluminum supply reliability? - Management confirmed that the Novelis mill is expected to restart between May and September, with contingency plans in place for supply continuity [46] Question: How does the company view the competitive landscape in North American trucks? - Management stated that they have been growing their truck leadership position and are prepared for competitive challenges [49] Question: What are the expectations for capital expenditures in the coming years? - Management indicated that capital spending is expected to increase, primarily driven by investments in Ford Energy and higher-return products [58][60]