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Ford Motor Company (NYSE: F) Q2 2024 Earnings Call Jul 24, 2024 , 5:00 p.m. At this time, I would like to welcome you to the Ford Motor Company second-quarter 2024 earnings conference call. Welcome to Ford Motor Company's second-quarter 2024 earnings call. Should you invest $1,000 in Ford Motor Company right now?
We are taking the right steps to shape DXC into a company that consistently delivers revenue growth and expanded margins, EPS, and free cash flow. In the quarter, we were impacted by a slowdown in customer expenditures, this is mainly the resale of IT equipment, such as PCs, networking gear and servers and project work. year to year.
Image source: Getty Images If you have an older, high-mileage vehicle, it may not have much resale value. Some expenses you could save on if you're donating your car: Auto insurance and tag fees: The average cost of insurance in a medium-cost state for a six-month, liability-only policy is $102 per month, according to Progressive.
In fact, last week, we held a well-attended VMware Explore Conference in Las Vegas, our first as a combined company. Finally, Q3 industrial resales of $164 million declined 31% year on year. We believe we are approaching bottom in Q3 as Q4 resales are expected to recover sequentially. billion tax liability. Thank you.
On rare occasions, our expert team of analysts issues a “Double Down” stock recommendation for companies that they think are about to pop. Right now, we’re issuing “Double Down” alerts for three incredible companies, and there may not be another chance like this anytime soon. Then you’ll want to hear this. points year to year to 8.2%
I believe we have a global team that is reenergized to make the company better and more effective. In short, we are a key strategic technology partner, supporting global insurance companies with their customers, their agents, and their employees. This is a core competency of the company.
While our company has an impressive collection of assets, technology, and people, it's clear that we need to sharpen our execution and accelerate our performance. I have learned that there are many compelling attributes of DXC that are either underappreciated or unknown outside the company. Organic revenue growth was down 4.5%
Measure on resales, Q4 industrial resales of $173 million declined 27% year on year. So, the reality going forward for this company is that the AI semiconductor business will rapidly outgrow the non-AI semiconductor business. And reflecting this trend, we now expect broadband to show recovery beginning in Q1.
Finally, Q2 industrial resale of $234 million declined 10% year on year. And for fiscal '24, we now expect industrial resale to be down double-digit percentage year on year, compared to our prior guidance for high single-digit decline. Harlan Sur -- JPMorgan Chase and Company -- Analyst Yeah. Operator Thank you. Good afternoon.
Finally, Q3 industrial resales of $236 million declined 3% year on year, reflecting weak demand in China. And in Q4, though, we expect an improvement with industrial resales up low single-digit percentage year on year, reflecting largely seasonality. And on a consolidated basis for the company, we're guiding Q4 revenue of 9.27
I'll start with a brief discussion covering current market conditions and some of our recent company milestones. News and World Report added us to the list of the 2024-2025 Best Companies to work for. And about 80% of our buyers in Q2 received some sort of financing incentives consistent with our mortgage company capture rate.
Jessica Hansen -- Senior Vice President, Communications Forestar, our majority-owned residential lot development company reported revenues of $334 million for the second quarter on 3,289 lots sold with pre-tax income of $59 million. FHA and VA loans accounted for 59% of the mortgage company's volume. Thank you to the entire D.R.
As usual, I'm going to give a macro and strategic overview of the company. The strategic benefits of driving volume came and will continue to come with advantages that are both immediately valuable, as well as durable for the company's future. I'd like to briefly detail some of those advantages. It's been a proving ground.
This migration allows greater process optimization across the company and provides timely, actionable insights for strategic decision-making to drive business performance. We believe our commitment to IP protection represents a cornerstone to company advancement and stakeholder value. Moving to GIS. The book-to-bill ratio was 0.67
Before we begin, I would like to remind everyone that this conference call may include forward-looking statements regarding the company's operating and financial performance in future periods. These statements are based on the company's current expectations and available information.
Our return on assets ranks in the top 25% of all S&P 500 companies for the past three-, five- and 10-year periods. During the fourth quarter, essentially all of our mortgage company's loan originations related to homes closed by our homebuilding operations and our mortgage company handled the financing for 77% of our buyers.
Howard and Andrew, combined with Chris, who runs ITO, gives us three former CXOs of Fortune 500 companies, leading almost 70% of our revenue. year-to-year decline, 160 basis points came from a reduced level of low-margin resale revenues, which was in line with our expectations. Zack Ajzenman -- Cowen and Company -- Analyst Hi.
On rare occasions, our expert team of analysts issues a Double Down stock recommendation for companies that they think are about to pop. Right now, were issuing Double Down alerts for three incredible companies, and there may not be another chance like this anytime soon. Then youll want to hear this. The book-to-bill ratio of 1.51
And finally, Q1 industrial resales of $215 million declined 6% year on year. In fiscal '24, we continue to expand industrial resales to be down high single digits year upon year. Harlan Sur -- JPMorgan Chase and Company -- Analyst Yeah, good afternoon. Harlan Sur -- JPMorgan Chase and Company -- Analyst OK. Thanks, Hock.
For a discussion of these risks and uncertainties, you should review the company's filings with the SEC, which includes today's press release. Now I'd like to turn the call over to Shawn Nelson, chief executive officer of The Lovesac Company. Please proceed with your question Brian Nagel -- Oppenheimer and Company -- Analyst Hi.
As usual, I'm going to give a macro and strategic overview of the company and our performance. We all reach that inevitable moment of retirement, but it is uncommon for that moment to coincide with the timing where the company is well prepared as well. But I think it started on a key point, which is we're a different company today.
[Operator instructions] The Children's Place issued its third-quarter 2023 earnings press release earlier this morning, and a copy of the release and presentation materials have been posted to the Investor Relations section of the company's website. On this call, the company will reference various non-GAAP financial measurements.
Before we begin, I would like to remind everyone that this conference call may include forward-looking statements regarding the company's operating and financial performance in future periods. These statements are based on the company's current expectations and available information.
As usual, I'm going to go ahead and give a macro and strategic overview of the company. We engaged the difficulties of the past year with a consistent strategy that promoted certainty of execution throughout the company. As I said, they are all in Miami, so there will be a bit of coordination here.
Jessica Hansen -- Vice President, Investor Relations Forestar, our majority-owned residential lot development company, reported revenues of $306 million for the first quarter on 3,150 lots sold, with pre-tax income of $51 million. FHA and VA loans accounted for 57% of the mortgage company's volume. Thank you to the entire D.R.
As you may recall, Loriann took the reins as CFO in addition to her role as COO effective March 1st at the start of the company's fiscal year, and I would personally like to welcome Loriann to today's call. The company assumes no responsibility to update any such forward-looking statements. Whoever is typing, if you can stop.
There'll be a number of forward-looking statements made today that should be considered in conjunction with the cautionary statements contained in the company's SEC filings. Right now, we’re issuing “Double Down” alerts for three incredible companies, and there may not be another chance like this anytime soon.
Industrial resales were 962 million. In fiscal '24, we expect industrial resales to be down low single digits year on year. Harlan Sur -- JPMorgan Chase and Company -- Analyst Hey, good afternoon, and thanks for taking my question. Harlan Sur -- JPMorgan Chase and Company -- Analyst Perfect. Operator Thank you.
I'll remind listeners that this call contains forward-looking statements, including management's views on the company's business strategy, outlook, plans, objectives and guidance for future periods. News and World Report recognize LGI Homes as one of the best companies to work for in multiple categories. Your line is open.
Operator instructions] To allow everyone an opportunity to ask a question, the company requests that each analyst only ask one question. See the 10 stocks *Stock Advisor returns as of January 16, 2024 Following management's perspective of the company's results, we will move to a Q&A session. Please go ahead, sir.
Today's call is being recorded, and a replay will be available on the company's website at www.lgihomes.com. Before we begin, I'll remind listeners that this call contains forward-looking statements, including management's views on the company's business strategy, outlook, plans, objectives, and guidance for future periods.
Earlier today, the company issued a press release comparing results of operations for the 13-week period ended August 3, 2024 to the 13-week period ended July 29, 2023. Additionally, please note that remarks made about the future expectations, plans and prospects of the company constitute forward-looking statements. Please go ahead.
I will start with a brief discussion about what we are seeing in the market and provide an overview of recent company milestones. And lastly, the resale home market remains tight as existing buyers are hesitant to leave their low rate mortgages, which limits available inventory and helps to increase new home demand.
He began his career covering the homebuilders and mortgage insurance companies, but over time, expanded his expertise into title insurance, mortgage origination, prop tech, home improvement, home furnishings and, of course, the residential brokerage industry. In discussing our company's performance, we will refer to some non-GAAP measures.
During the spring selling season with a healthy supply of move-in ready inventory, we were able to capitalize on strong market conditions generated by the increasing need for housing for millennials and Gen Zs as well as the move-down Baby Boomers who continue to find our limited inventory, limited availability of resale housing supply.
The only thing I would add to that, John, is that the new minister of petroleum has a set of priorities and high on that list of priorities, just to get the oil companies paid off. But in that oil and gas purchase for resale, remember that still includes the Cheniere contract, which, of course, has nothing to do with Waha differentials.
The webcast replay of this call will be available for the next 90 days on our company website under the Investor Relations link. Workday stands apart in our commitment to the responsible development of AI technologies, its responsible deployment within our own company, and our advocacy for its regulation. Onset, and Swisscom.
We will maintain our disciplined approach to investing capital to enhance the long-term value of our company, including returning capital to our shareholders through both dividends and share repurchases on a consistent basis. FHA and VA loans accounted for 51% of the mortgage company's volume. per diluted share, compared to $4.67
In discussing our company's performance today, we will refer to some non-GAAP measures. million annual resale transactions in time. Agent retention remains high as our principal agent quarterly retention was 97%, a number we have consistently reached since becoming a public company in April 2021. million to 5.5 Please go ahead.
For a discussion of these risks and uncertainties, you should review the company's filings with the SEC, which includes today's press release. Now, I'd like to turn the call over to Shawn Nelson, chief executive officer of the Lovesac Company. Our next question comes from the line of Brian Nagel with Oppenheimer and Company.
Baird and Company -- Analyst Hi, guys. Baird and Company -- Analyst OK. Baird and Company -- Analyst Great. Sharon Zackfia -- William Blair and Company -- Analyst Hi. Sharon Zackfia -- William Blair and Company -- Analyst Yes. Obviously, some of the product resale affected mix this year. Thanks, guys.
I'll start with a brief discussion covering market trends and provide an overview of our recent company achievements. News and World Report's Best Companies to Work For and the Phoenix Business Journal's Best Places to Work, an honor for us in our hometown. Steve Hilton -- Executive Chairman Thank you, Emily. Now turning to Slide 7.
Both leading game companies and smaller studios actively develop and operate mini games, including casual games, card games, and many other types of games. billion renminbi, mainly due to compliance-related costs, actually offset by net gains from deemed disposals and disposal of certain investee companies. Gross profit was 70.8
Another example of how our digital business is enabling us to develop and deliver transformational solutions for our largest customers is with one of the biggest financial service companies in the United States. As we've discussed before, India is a key focus for our company's growth and our progress there is a major win for our business.
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