Ford Motor Co., citing inflationary pressures throughout the supply chain, said Monday it expects to end the third quarter with adjusted earnings before interest and taxes of between $1.4 billion and $1.7 billion, down from the $3 billion in adjusted earnings it posted over the same period a year ago.
The company's latest third-quarter guidance is also below the FactSet consensus analyst estimate of $2.98 billion.
The automaker, however, reaffirmed its full-year guidance of $11.5 billion to $12.5 billion in adjusted EBIT, which would be 15 to 25 percent more than it earned in 2021.
The automaker said that inflation-related supplier costs during the third quarter will run about $1 billion higher than it originally expected.
It expects to finish the period with between 40,000 to 45,000 unfinished vehicles waiting on parts. Most of those vehicles, it said, will be high-margin trucks and utility vehicles.
Ford finished the second quarter with about 18,000 unfinished vehicles.
The company will report third-quarter earnings on Oct. 26.
Ford shares closed up 21 cents at $14.93 on Monday, but dropped 5.5 percent in postmarket trading after the company issued the third-quarter profit warning.
