mynameisgmoney
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Full Ford press release:https://media.ford.com/content/ford...ect-of-parts-shortages-on-q3-performance.html
And WSJ's report on it:
https://www.wsj.com/articles/ford-w...inished-vehicles-11663620521?mod=hp_lead_pos3
And WSJ's report on it:
https://www.wsj.com/articles/ford-w...inished-vehicles-11663620521?mod=hp_lead_pos3
Ford Motor Co. said Monday that shortages of certain parts will result in a higher-than-planned number of unfinished vehicles in its inventory.
“Vehicles on wheels” have been built but are still in need of some parts, the company said. Ford said it expected to have about 40,000 to 45,000 such vehicles in inventory at end of the third quarter. Those vehicles “disproportionately include high-demand, high-margin models of popular trucks and SUVs,” Ford said.
Completing these vehicles will shift some revenue and earnings before interest and taxes to the fourth quarter, Ford said. It added that “based on recent negotiations, inflation-related supplier costs during the third quarter will run about $1 billion higher than originally expected.”
Ford said it was affirming its expectation for full-year 2022 adjusted earnings before interest and tax of between $11.5 billion to $12.5 billion. The company also said it was expecting third-quarter adjusted EBIT of between $1.4 billion and $1.7 billion. In the second quarter, the company reported adjusted EBIT of $3.7 billion.
Ford is slated to release third-quarter 2022 financial results on Oct. 26.
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