Paramount Stock Falls Sharply as Analysts Discuss Dividend Cut, “Concerning” Free Cash Flow

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Paramount Stock Falls Sharply as Analysts Discuss Dividend Cut, “Concerning” Free Cash Flow
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'A dividend cut typically signals material shifts in managements' views of risk profiles,' writes one Wall Street expert.

But Cahall highlighted that Paramount’s free cash flow loss in particular widened. Free cash flow is a profitability metric that Wall Street uses to gauge how much money companies have left over once they meet all their financial commitments. A loss means that a firm must tap into its cash reserves or use debt. Paramount’s first-quarter free cash flow loss came in at $554 million, “versus our $234 million loss and Street $411 million loss” estimate, the analyst said.

But what will all that mean for management’s goal of returning to positive free cash flow in 2024? “The dividend and bigger first-quarter cash outflow is likely to rekindle discussions around cash generation, and what the key drivers are for getting to free cash flow positive,” Cahall wrote in a section under the header “The first cut is the deepest.”

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