|
|
Recent Articles
-
Ford Reports Record Third Quarter Revenue
Oct 27, 2025
-
Image Source: Ford.
Looking to full-year 2025, Ford noted that its business is performing at the high end of the guidance range previously outlined in February, despite absorbing a $1 billion net tariff headwind. It also said that between 2025 and 2026, Ford expects the Novelis fire to be a headwind of $1.0 billion or less. Ford now expects full-year 2025 company adjusted EBIT of $6-$6.5 billion, adjusted free cash flow of $2-$3 billion and capital expenditures of ~$9 billion. Ford is working to navigate the Novelis fire impact as well as tariff headwinds, but record revenue speaks to resilience. Ford yields 4.3% at the time of this writing.
-
IBM Raises Full-Year Revenue Growth and Free Cash Flow Outlook
Oct 23, 2025
-
Image Source: TradingView.
Looking to full-year 2025 expectations, IBM now expects constant currency revenue growth of more than 5%, with free cash flow now expected to be about $14 billion. IBM ended the third quarter with $14.9 billion of cash and marketable securities, up $0.1 billion from year-end 2024. Debt, including IBM Financing debt of $11.3 billion, totaled $63.1 billion, up $8.1 billion year-to-date. IBM continues to pay a regularly quarterly dividend of $1.68 per common share and has paid consecutive quarterly dividends every year since 1916. IBM is one that we’re watching closely for the Dividend Growth Newsletter portfolio, but we remain on the sidelines at this time. Shares yield 2.3% at the time of this writing.
-
Tesla Faces Earnings and Margin Pressure But Free Cash Flow Soars
Oct 23, 2025
-
Image Source: Tesla.
Tesla’s cash flow from operations was roughly flat year-over-year at $6.24 billion and the company slowed capital spending to $2.25 billion, resulting in free cash flow of nearly $4 billion in the quarter. Cash and cash equivalents totaled $41.65 billion at the end of the quarter versus $7.7 billion in debt and finance leases, resulting in a net cash position of nearly $34 billion. Tesla delivered 497,099 vehicles in the quarter, up 7%, buoyed by a pull-forward in demand from the expiration of the $7,500 government tax credit. Though fourth quarter results may be pressured, the company remains a net cash rich, free cash flow generating powerhouse. The high end of our fair value estimate range stands at $345 per share, however, well below where shares are currently trading.
-
AT&T Expects Strong Free Cash Flow in Coming Years
Oct 22, 2025
-
Image Source: TradingView.
AT&T reiterated its full year 2025 financial guidance. Consolidated service revenue is targeted to grow in the low-single-digit range, while adjusted EBITDA is expected to grow 3% or better. Free cash flow is expected in the low-to-mid $16 billion range, while adjusted earnings per share is targeted in the higher end of the $1.97-$2.07 range. The company also reiterated its 2026-2027 financial outlook. Consolidated service revenue growth is expected in the low-single-digit range annually from 2026-2027, with adjusted EBITDA growth of 3% or better annually from 2026-2027. Adjusted earnings per share is expected to accelerate to double-digit percentage growth in 2027. Free cash flow is targeted at $18+ billion and $19+ billion for 2026 and 2027, respectively. We like the free cash flow growth expectations at AT&T, but its huge net debt position keeps us on the sidelines. Shares yield 4.3% at the time of this writing.
|
