Rolls-Royce's Free Cashflow Guidance May Disappoint Some Bulls -- Market Talk

Dow Jones02-22

1230 GMT - Given Rolls-Royce's free cash flow strength in 2023, Rolls-Royce's 2024 FCF guidance of GBP1.7 billion to GBP1.9 billion might be disappointing to some bulls, UBS analysts say in a note. Although sell-side consensus is at the low end of guidance, analysts say some investors were expecting 2024 FCF guidance to be as high a GBP2 billion. Still, results and guidance are well ahead of market consensus and there is strong evidence that the turnaround continues, "Although those with elevated expectations into the print may be disappointed by FCF guidance," the analysts say. Shares are up 11% at 364.70 pence. (anthony.orunagoriainoff@dowjones.com)

(END) Dow Jones Newswires

February 22, 2024 07:30 ET (12:30 GMT)

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