Ford (NYSE: F) came out on Monday with a pre-announcement on third-quarter earnings that was pretty grim – not just for them, but for the market and global economy as a whole. Instead of Ford’s expected $3 billion in operating profits for the third quarter, the pre-announcement stated it will actually be closer to $1.4 -1.7 billion. This of course caused the stock to plunge by 9.18% by 11 am the following day. The reason the earnings were so disappointing is a continuing supply chain problem that has left them with 40,000-50,000 “uncompleted cars” awaiting computer chips. This is why I think it represents a larger problem within the global economy: supply chain issues and inflationary costs cutting into profit margins.
My one-hundred-and-seventy-eighth YouTube video: “Ford Drops a Bombshell on the Market” went up today.
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Here’s the link: https://www.youtube.com/watch?v=E52OVSjW8go
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