After yesterday’s close, Ford warned investors that inflation and supply chain issues would cost it an extra $1 billion during the third quarter. 🔺
Parts shortages have prevented 40,000-45,000 vehicles from reaching its dealers, mainly high-margin trucks and SUVs. However, it expects to be able to ship those vehicles during Q4.
Executives reiterated their full-year guidance, projecting 2022 adjusted EBITDA of $11.5-$12.5 billion. They also said they’d “provide more dimension about expectations for full-year performance” at its third-quarter earnings release on October 26th. 📅
Supply chain issues have affected most industries throughout the pandemic, hitting automakers particularly hard. In July, General Motors warned investors that it had about 95,000 vehicles lacking some components. ⚠️
Overall, while the company remains optimistic, investors appear less so. $F shares were down 5% after hours and are down 11% so far in today’s session. 👎
