Aston Martin shares surge 14% on profitability forecast for 2023
Publishing timestamp: 2023-03-01 05:09:35
Summary
British luxury carmaker Aston Martin Lagonda reported widening pretax losses in 2022 due to weakening U.K. currency, but issued more optimistic guidance for 2023. Shares rose 14% after the company forecasted higher profitability this year, driven by increased volumes and higher gross margin. Executive Chairman Lawrence Stroll reiterated the company's target to become "sustainably free cash flow positive" from 2024. Analysts noted the positive news for the company.
Sentiment: POSITIVE
Tickers: AML-GB,
Keywords: business news, aston martin lagonda global holdings plc, autos, energy, transportation,
Source: https://www.cnbc.com/2023/03/01/aston-martin-shares-surge-on-profitability-forecast-for-2023.html