Ford Motor Co F shares are trading lower Tuesday after the company warned that part shortages will impact its third-quarter performance.
Ford said the supply shortages will result in a higher number of vehicles in its inventory awaiting parts. The company expects to have between 40,000 and 45,000 vehicles waiting for parts at the end of the third quarter, which are mostly made up of high-demand, high-margin models of popular trucks and SUVs.
Ford also noted that inflation-related supplier costs during the third quarter will run about $1 billion higher than originally expected. As a result, the company now anticipates third-quarter adjusted EBIT to be in a range of $1.4 billion to $1.7 billion. Full-year adjusted EBIT is still expected to be between $11.5 billion and $12.5 billion.
Ford is scheduled to report its third-quarter financial results on Oct. 26.
F Price Action: Ford has a 52-week high of $25.87 and a 52-week low of $10.61.
The stock was down 4.83% at $14.21 at time of publication, according to Benzinga Pro.
Photo: courtesy of Ford.
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