DETROIT — Ford Motor is announcing first-quarter earnings after the markets close Wednesday.
The automaker's 2024 guidance released in February included adjusted earnings before interest and taxes, or EBIT, of between $10 billion and $12 billion; adjusted free cash flow of $6 billion to $7 billion; and capital spending of $8 billion to $9.5 billion.
There is less consensus on Wall Street around Ford's performance than there was for its crosstown rival General Motors , which on Tuesday reported strong first-quarter results and raised its full-year guidance.
Ford is Morgan Stanley's "top pick," but others on Wall Street are less bullish on the company.
Ford has faced years of inflated warranty costs, including $1.9 billion in 2023, which have affected its earnings.
Persons:
Ford's, Ford, Morgan Stanley's, Joseph Spak, Jim Farley's, — CNBC's Michael Bloom
Organizations:
New York, DETROIT, Motors, UBS