Ford: cuts 2024 adjusted EBIT target

(CercleFinance.com) - On announcing its quarterly results on Monday evening, Ford said that it is now targeting adjusted EBIT of around $10bn for 2024, instead of $10bn to $12bn, while confirming its target range for adjusted free cash flow of $7.
5bn to $8.5bn.

Ford posted Q3 2024 adjusted EPS (non-GAAP) of $0.49, compared with $0.39 a year earlier, as well as adjusted EBIT of $2.6bn, with its EBIT margin up 0.5 point to 5.5%, along with adjusted FCF of $3.2bn.

The automaker says that the improvement in adjusted EBIT is thanks to higher volumes and a favourable mix, partially offset by pricing pressures in electric vehicles and negative currency effects.

With a slight increase in volumes sold to just under 1.1 million vehicles, Ford saw its revenues rise by 5% to $46.2bn, marking their tenth consecutive quarter of y-o-y growth.


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