Ford lowered its 2025 profit forecast after a fire at a key aluminum supplier in New York disrupted production of its F-150 pickup trucks and other high-margin vehicles.
The September fire at the Novelis plant in Oswego will cost Ford between $1.5 billion and $2 billion before taxes and interest, the company said, though it expects to offset about $1 billion of that next year.
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“We have made substantial progress in a short time to minimize the impact in 2025 and recover production in 2026,” Chief Executive Jim Farley said, adding that he had been “on site working with Novelis to source aluminum from parts of the plant that were still operational.”
Ford posted third-quarter revenue of $50.5 billion, up 9% from a year earlier, and earnings per share of 45 cents, beating analyst expectations. The automaker now expects annual earnings before interest and taxes of $6.0 billion to $6.5 billion, down from a previous range of $6.5 billion to $7.5 billion.
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Chief Financial Officer Sherry House said the company “would have raised guidance had it not been for the Novelis fire.”
Ford said it plans to increase truck production by 50,000 units next year to recover some of the lost output and will pause production of its F-150 Lightning electric truck to focus on more profitable gasoline versions.
“I’d like to thank President Trump and his team,” Farley added, referring to new credits designed to offset tariff costs on imported parts.