Ford: 2024 targets reaffirmed, 'Ford+' plan in support
At a conference dedicated to the automotive sector organized by Bank of America, the American automaker's CFO, John Lawler, reaffirmed his forecast for adjusted operating income before non-recurring items (Ebitda) of $10 to $12 billion this year.
Adjusted free cash flow (FCF) is still expected to be between six and seven billion dollars, while capital expenditure is forecast at between eight and 9.5 billion dollars.
Speaking at the BofA Securities Auto Summit, Lawler reiterated that the 'Ford+' program aims to boost growth, increase profit margins and improve capital efficiency, while reducing the cyclicality of the Group's results.
At 2:35 pm, the stock was down 0.3%, underperforming the S&P 500 index, which was up 0.3%.
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