Ford shares dropped 4.5% in pre-market trading!
As investors reacted after the vehicle maker issued a profit warning for its third-quarter results.
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.
Tweet on Ford’ stock reaction towards the profit concerns
Ford Stock Falls, as profit concerns mounts!
Ford shares dropped 4.5% in premarket trading after the vehicle maker issued a profit warning for its third-quarter results.
— The_Journalbiz (@the_journalbiz) September 20, 2022
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 comes after a high-profile profit warning from FedEx, which sent stocks lower last Friday.
This week, investors are closely watching the outcome of the Federal Reserve’s policy meeting for clues about the dollar’s trajectory.