Ford reinstates 2023 guidance, says UAW deal to cost $8.8 billion over life of the contract
Publishing timestamp: 2023-11-30 09:23:44
Summary
Ford Motor has reinstated its 2023 guidance after previously pulling it due to labor strikes and negotiations with the United Auto Workers union. The guidance includes adjusted earnings before interest and taxes of $10 billion to $10.5 billion and adjusted free cash flow of $5 billion to $5.5 billion. The new UAW labor agreement is expected to cost $8.8 billion over the life of the contract. Ford plans to offset these additional costs by finding productivity, efficiencies, and cost reductions throughout the company.
Sentiment: NEUTRAL
Tickers: F, STLAM-IT, STLA, GM,
Keywords: autos, new york, transportation, breaking news: business, business news, business, ford motor co, general motors co, dividends, earnings, stellantis nv,
Source: https://www.cnbc.com/2023/11/30/fords-2023-guidance-uaw-deal-cost.html