Jim Farley Reacts As Ford Gets Second Credit Upgrade: 'Important Milepost On The Way To Bigger Things'
Portfolio Pulse from Anan Ashraf
S&P Global Ratings has upgraded Ford Motor Co's credit rating to investment grade, despite disappointing Q3 results and uncertainty due to a recent workers' union strike. Ford's CEO, Jim Farley, expressed pride in the team and highlighted the company's strong balance sheet. Despite a Q3 earnings miss and a $1.3 billion EBIT loss in its EV segment, S&P is optimistic about Ford's future, expecting cost reductions to offset higher labor costs and losses in its Model e segment. Ford shares are down 16.4% year-to-date.
October 31, 2023 | 9:08 am
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Ford's credit rating has been upgraded by S&P Global Ratings despite a disappointing Q3 and uncertainty due to a recent workers' union strike. The company's shares are down 16.4% year-to-date.
The upgrade of Ford's credit rating by S&P Global Ratings is a positive signal for the company's financial health, despite recent challenges. This could potentially boost investor confidence and have a positive impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100