Ford Confirms FY24 Operating View - Quick Facts

(RTTNews) - Auto major Ford Motor Co. (F) Tuesday said CFO John Lawler will confirm its fiscal 2024 operating guidance at today's BofA Securities Auto Summit.

The company continues to expect annual adjusted earnings before interest and taxes of $10 billion to $12 billion, adjusted free cash flow of $6 billion to $7 billion, and capital expenditures of $8 billion to $9.5 billion.

In fiscal 2023, adjusted EBIT was $10.4 billion and adjusted FCF of $6.8 billion.

Ford said, "The Ford+ growth plan is providing customers with the mix of gas, hybrid and electric personal and commercial vehicles and services they want, while improving growth, margins and capital efficiency and reducing cyclicality - prompting the company to reiterate its expectations for full-year 2024 operating results."

During fireside-chat remarks at the Summit, Lawler will talk about Ford+ plan and its three distinct, customer-centered business segments of Ford Blue, Ford Pro, and Ford Model e.

Ford Blue is for iconic gas and hybrid vehicles, while Ford Pro is with tailored products and services to help commercial customers transform their enterprises.

Ford Model e is developing breakthrough electric vehicles along with connected, software-enabled capabilities and experiences.

Ford plans to report first-quarter 2024 financial results on Wednesday, April 24.

In pre-market activity on the NYSE, Ford shares were gaining around 0.5 percent to trade at $12.96.