Ford Says Full-Year 2023 Adjusted EBIT Would Include $1.7B In Strike-Related Lost Profits – $1.6B Of That From Q4 – Owing To Interruptions In Production Of High-Margin Trucks And SUVs
Portfolio Pulse from Benzinga Newsdesk
Ford has announced that its full-year 2023 adjusted EBIT will include a $1.7 billion reduction due to strike-related lost profits, with $1.6 billion of this impact occurring in Q4. The losses stem from production interruptions of high-margin trucks and SUVs.
November 30, 2023 | 11:52 am
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Ford expects a significant reduction in its adjusted EBIT for 2023, with a $1.7 billion loss due to strikes, heavily impacting Q4 earnings.
The news directly relates to Ford's financial performance, indicating a substantial loss in profits due to strikes. This is particularly significant as it affects the production of high-margin vehicles, which are key to Ford's profitability. The timing of the loss in Q4 suggests a negative impact on the stock in the short term as investors react to the reduced earnings potential.
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