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News > Companies
Ford cuts estimates
September 14, 2001: 4:35 p.m. ET

Parts shortages after tragedy lead to plant disruption; Ford to miss 3Q targets
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NEW YORK (CNNfn) - Ford Motor Co. said Friday this week's terrorist attacks have affected North American production and the company's third-quarter earnings will fall short of expectations.

Ford said it has experienced a parts shortage which affected production stemming mainly from air-freight disruption. The company also suspended operations at U.S. and Canadian plants Friday morning so employees could attend memorial services.

Ford expects to suspend operations at several assembly plants next week, and is now predicting third-quarter production of 810,000-to-820,000 vehicles, down 110,000-to-120,000 from the same period a year ago.

The company said its results will fall short of current earnings expectations of 10 cents per share. graphic

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.