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Ford Motors reported strong 1Q24 earnings, beating market expectations. Ford’s 1Q24 revenue rose by 3% YoY to $42.8bn on back of the strong numbers from Ford pro commercial segment which registered a 36% jump YoY in the revenue. The company’s CFO said that their full-year adjusted EBIT guidance remained unchanged but they expect to generate adjusted free cash flow of $6.5-7.5bn, up from initial outlook of $6-7bn provided earlier. The company has dialled back on its aggressive electrification push to focus more on SUVs and pickups which are more profitable.
Its 4.346% 2026s was stable at 96.7 cents on the dollar, yielding 5.73%
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