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Ford shares tumble as second-quarter profit misses expectations due to warranty costs

NEWS REPORTINGSource Reporting

CNBC · Jul 24, 2024

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EDITORIALOur Summary

Ford's second-quarter earnings fell short of analyst estimates as the company grappled with a $1.1 billion surge in warranty and recall expenses. CEO Jim Farley acknowledged that while quality on new models is improving, legacy issues from older vehicles continue to negatively impact the company's bottom line.

PARODYOur Take

Another strong quarter for the service department.

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