Ford Motor Co.
F,
said early Monday that its capital markets day that kicks off later in the day it will announce new battery raw-material agreements, that strengthen sourcing to produce two million electric vehicles by the end of 2026. The capital markets day will also feature updates on the automaker’s Ford+ strategy, including financial targets and key performance indicators (KPI). Ford said it will. For reiterated its guidance range for adjusted earnings before interest and taxes (EBIT) of $9 billion to $11 billion and its guidance for adjusted free cash flow of $6 billion, and said it still expects a full-year loss of about $3 billion for the startup Ford Model e. Ford’s stock rose 0.8% in premarket trading. “The days of being all things to all people are over at Ford,” said Chief Executive Officer Jim Farley. “We’re developing and delivering connected, digital products that give customers tailored ownership experiences – opening up diverse revenue pools and unprecedented growth for us instead of jockeying for slivers of share with complex hardware in over-served vehicle categories.” The stock has edged up 0.2% year to date through Friday, while the S&P 500
SPX,
has advanced 9.2%.
