Free Trial

Ford (Ba1/BBB-): 1Q24 Results

CONSUMER CYCLICALS

Positive results with strong EBITDA beat and better FCF guidance. Not expecting much movement given spread outperformance YTD. Debt position should continue to improve with 40-50% of FCF to be paid out to shareholders, although management expect to invest in growth opportunities. Positive ratings momentum should continue.


• Revenue came in line, while adj. EBITDA came in 25% ahead of consensus.

Keep reading...Show less
109 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Positive results with strong EBITDA beat and better FCF guidance. Not expecting much movement given spread outperformance YTD. Debt position should continue to improve with 40-50% of FCF to be paid out to shareholders, although management expect to invest in growth opportunities. Positive ratings momentum should continue.


• Revenue came in line, while adj. EBITDA came in 25% ahead of consensus.

Keep reading...Show less