Lyft Says In 2024 Expects To Generate Positive Free Cash Flow On A Full Year Basis For The First Time In Company's History; Says Anticipates For The Full Year 2024, We Expect That Roughly Half Of Adjusted EBITDA Dollars Will Convert To Free Cash Flow
Portfolio Pulse from Benzinga Newsdesk
Lyft has announced that in 2024, it expects to generate positive free cash flow for the first time in the company's history. The company also anticipates that roughly half of its adjusted EBITDA dollars will convert to free cash flow for the full year 2024.
February 13, 2024 | 9:52 pm
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Lyft expects to achieve positive free cash flow in 2024 for the first time, with approximately half of adjusted EBITDA converting to free cash flow.
The announcement of expected positive free cash flow in 2024 is a significant milestone for Lyft, indicating a strong financial outlook and operational efficiency. This news is likely to be viewed positively by investors, as it reflects the company's progress towards profitability and financial stability. The conversion of adjusted EBITDA to free cash flow is an important metric for assessing the company's ability to generate cash from its operations, which is crucial for funding future growth, reducing debt, or returning value to shareholders.
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