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Ford Forecast Trails Estimates After Costs Rise, Sales Slump

  • Shares plunge as new-model launches weigh on 2020 outlook
  • Redesigned F-150, electric Mustang SUV are coming this year
2019 Ford Motor Co. F-150 pickup trucks.
Photographer: Daniel Acker/Bloomberg
Updated on

Ford Motor Co.’s 2020 got off to the roughest of starts, with the automaker forecasting profit well below analysts’ estimates in a sign that Chief Executive Officer Jim Hackett’s $11 billion turnaround plan may take longer to pay off.

Earnings before interest and taxes will fall to a range of $5.6 billion to $6.6 billion this year, Ford said Tuesday, trailing analysts’ average estimate of $7.4 billion. The forecast was included in the automaker’s fourth-quarter results, with adjusted earnings falling short of projections.