Transportation
Ford’s Shares Tumble After High Costs Pressure Profit Outlook
- Automaker continues to struggle with warranty expenses
- Plug-in car business lost $1.2 billion during third quarter
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Ford Motor Co.’s shares fell after the company warned that earnings this year will be at the low end of its forecast as the carmaker struggles to bring down high warranty costs.
Adjusted earnings before interest and taxes this year will be about $10 billion, down from a previous outlook for as much as $12 billion, the company said Monday. Analysts had expected $10.6 billion.