Ford: 2024 targets confirmed, backed by Ford+ plan

(CercleFinance.com) - On Tuesday, Ford confirmed its financial targets for FY 2024, citing the implementation of its 'Ford+' growth plan.


At a conference dedicated to the automotive sector organized by Bank of America, the US car maker's CFO, John Lawler, reaffirmed his forecast for adjusted operating income before non-recurring items (Ebitda) of $10bn to $12bn this year.

Adjusted free cash flow (FCF) is still expected to be between $6bn and $7bn, while capex is forecast between $8bn and $9.5bn.

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.

However, 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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