Ford stock has largest daily decline since 2011
After the automaker issued a warning that clogged supply chains will hurt its third quarter bottom line, Ford shares fell this week.
Ford reaffirmed its full-year profit target, which calls for operating earnings of $11.5 to $12.5 billion.
But estimated that up to 45,000 vehicles could still be in its inventory after being delayed in being sold until the last three months of the year due to missing parts.
Both its third quarter revenues and its adjusted earnings, which it expects to be in the range of $1.4 billion and $1.7 billion, are expected to suffer as a result.
On October 26, Ford will release its third quarter financial results.
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