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The Markets
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The Markets
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Manufacturing & engineering

Ford reinstates guidance and says strike cost $1.7bn

Ford has reinstated full-year guidance, after pulling its outlook amid a lengthy United Auto Workers strike in the US.

The Michigan-headquartered vehicle manufacturer said it now expects full-year adjusted earnings before interest and tax of $10.0 billion to $10.5 billion.

The automaker said the strike has cut its profit figure by around $1.7 billion, with $1.6 billion of that impact taking place in the fourth quarter.

In July, Ford said it expected full-year Ebit between $11 billion and $12 billion.

The firm withdrew its guidance in October due to the UAW strike which began in September. The strike ended earlier this month, with a new labour agreement ratified in mid-November.

Ford shares rose 1.4% in pre-market trading in New York.

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