Ford shares dropped 12.3% Tues

2022-09-21

Ford shares dropped 12.3% Tuesday after the vehicle maker issued a profit warning for its third-quarter results.

The stock was the most-active stock on the S&P 500 -- and its worst performer, according to Dow Jones Market Data. It posted its worst one-day percentage decline since a more-than-13% drop in January 2011.

The company said vehicle parts supply shortages would weigh on earnings, as it expects inflationary pressures to add about $1 billion to previously expected supplier costs. Ford now anticipates third-quarter adjusted earnings before interest and taxes to come in between $1.4 billion and $1.7 billion.

The preannouncement from Ford came after a high-profile profit warning from FedEx, which sent stocks lower last Friday.

Ford's shares closed at $13.09 apiece, down about 37% for the year.

@Daily_Discussion

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Comments

JonLucky
2022-09-21
JonLucky
will be more afFORDable
ckh
2022-09-21
ckh
hopefully everything will turn good soon
Ayumi82
2022-09-21
Ayumi82
Ho
Pd2267
2022-09-21
Pd2267
yes
林明河
2022-09-21
林明河
好的
Princexoxo
2022-09-21
Princexoxo
Gg

Leave a comment

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