Ford Motor Co. shares dropped more than 4% on the extended session Monday after the auto maker reaffirmed its outlook but said inflation and parts shortages will leave it with more unfinished vehicles than it had expected.
Ford
F,
+1.43%
said it expects to have between 40,000 and 45,000 vehicles in inventory at the end of the third quarter “lacking certain parts presently in short supply.”
Those unfinished vehicles include high-demand, high-margin models of popular trucks and SUVs, the company said. That will cause some revenue to shift to the fourth quarter.
The auto maker also said that inflation will cause its supply costs to be about $1 billion above what it previously expected.
Ford called for third-quarter adjusted EBIT of between $1.4 billion and $1.7 billion.
Shares of Ford ended the regular trading day up 1.4%.
