Ford warns investors of an extra $1 billion in supply chain costs during the third quarter

DETROIT – Ford Motor on Monday warned investors that the company expects to incur $1 billion more in costs than previously expected during the third quarter due to supply chain issues.

The company, however, said it still expects 2022 adjusted earnings before interest and taxes of between $11.5 billion to $12.5 billion, but said the supply chain problems have resulted in parts shortages affecting roughly 40,000 to 45,000 vehicles that haven't been able to reach dealers.

Shares of the company fell nearly 4% in extended trading following the update.

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