Ford Motor Co. expects a profit hit of as much as $2 billion after a devastating fire at a key supplier of aluminum for its top-selling F-150 pickup truck, overshadowing financial results that exceeded expectations.
The automaker now expects full-year adjusted earnings before interest and taxes of $6 billion to $6.5 billion, down from as much as $7.5 billion under its previous guidance, the company said as it announced third-quarter earnings Thursday. The low end of that new range represents a 41% drop from the $10.2 billion Ford earned by that measure last year.
Ford