Bulletin: Ford Motor Co.'s Third-Quarter Results Are In-Line With Expectations For A Potential Upgrade In 2023 - S&P Global Ratings’ Credit Research

Bulletin: Ford Motor Co.'s Third-Quarter Results Are In-Line With Expectations For A Potential Upgrade In 2023

Bulletin: Ford Motor Co.'s Third-Quarter Results Are In-Line With Expectations For A Potential Upgrade In 2023 - S&P Global Ratings’ Credit Research
Bulletin: Ford Motor Co.'s Third-Quarter Results Are In-Line With Expectations For A Potential Upgrade In 2023
Published Oct 27, 2022
3 pages (1647 words) — Published Oct 27, 2022
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About This Report

  
Abstract:

NEW YORK (S&P Global Ratings) Oct. 27, 2022--S&P Global Ratings today said that Ford Motor Co.'s (BB+/Positive/B) third-quarter 2022 performance and guidance indicate a gradual recovery in its free operating cash flow (FOCF) through 2023 (following negative cash flow generation in 2018-2021) despite weak macroeconomic conditions. The company remains positioned for an upgrade to an investment-grade rating in 2023 if we believe its pricing power and cost control will support its ability to sustain EBITDA margins of more than 8%. We expect Ford's EBITDA margins (including mobility, restructuring outflows, and standard S&P Global Ratings adjustments) will be about 7.0% in 2022 and exceed 8.0% (above our upside trigger) in 2023 and 2024, which is mostly unchanged from our prior forecast.

  
Report Type:

Bulletin

Ticker
F
Issuer
Ford Motor Co.
GICS
Automobile Manufacturers (25102010)
Sector
Global Issuers , Structured Finance
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Ford Motor Co.'s Third-Quarter Results Are In-Line With Expectations For A Potential Upgrade In 2023" Oct 27, 2022. Alacra Store. May 09, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Ford-Motor-Co-s-Third-Quarter-Results-Are-In-Line-With-Expectations-For-A-Potential-Upgrade-In-2023-2909512>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Ford Motor Co.'s Third-Quarter Results Are In-Line With Expectations For A Potential Upgrade In 2023 Oct 27, 2022. New York, NY: Alacra Store. Retrieved May 09, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Ford-Motor-Co-s-Third-Quarter-Results-Are-In-Line-With-Expectations-For-A-Potential-Upgrade-In-2023-2909512>
  
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