Ford sees FY25 gross cost of tariffs $2.5B

Sees FY25 net adjusted EBIT impact of tariffs $1.5B. Sees industry prices up 1%-1.5% in second half due to tariffs. Says had best Q1 U.S. pickup sales in 20 years. Says estimates gross impact to total adjusted EBIT from tariffs to be $2.5B. Says leveraging U.S. footprint. Says stopped exporting vehicles to China. Says on track to deliver $1B in net cost improvement. Says will provide update on guidance in Q2 earnings call. Says needs to see retaliatory part of tariffs. Says no doubt Ford (F) has opportunity that few companies have. Comments and guidance taken from Q1 earnings conference call.