Why Ford Stock Is Crashing Today
Ford (NYSE: F) shareholders didn't wake up to good news Tuesday. The company put out an earnings warning and made clear that it is still struggling to navigate supply chain challenges. The stock reacted with more than a 10% drop in morning trading. As of 10:41 a.m. ET, Ford shares were still down 9.4%.
Ford said late Monday it would take a $1 billion hit in its third quarter from what it called "inflation-related Q3 supply costs." The company additionally warned that some revenue would be deferred to the fourth quarter as 40,000 to 45,000 vehicles remained in inventory lacking some parts. The company reaffirmed its estimate for 2022 adjusted earnings before interest and taxes (EBIT) of between $11.5 billion to $12.5 billion, but that didn't satisfy investors today.
Source Fool.com
