On July 26, Gelunhui reported that Ford Motor (F.US) closed down more than 18%, marking the largest single-day drop in more than 15 years. Prior to this, the company blamed the significant decline in performance on the surge in warranty costs for old vehicles. For many years, recurring quality issues have driven up Ford's warranty costs, but the cost spike of $0.8 billion in the second quarter of 2021 came as a surprise to investors. CFO John Lawler said it was a one-time cost surge due to quality-related issues with models produced in 2021 and before. Ford's adjusted earnings per share for the second quarter were 47 cents, well below the analyst average expectation of 67 cents. The company's stock price plummeted 18% at Thursday's close, marking the biggest single-day drop since November 2008 and wiping out all of this year's gains.
美股异动｜福特汽车大跌逾18%创15年来最大单日跌幅 保修成本侵蚀利润
Ford Motor's stock plunged more than 18%, marking its largest single-day decline in 15 years. Warranty costs have eroded profits.
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