Stubbornly high warranty expenses and lagging cost-cutting efforts are holding back Ford Motor Co.'s profits this year, causing the company to lower its full-year earnings guidance.

That pushed the company’s stock price down 6% in trading after Monday’s closing bell.

The Dearborn, Michigan, automaker, which reported third-quarter earnings Monday, said its net profit tumbled nearly 26% as it took $1 billion in accounting charges to write down assets for a canceled three-row electric SUV.

Ford said it made $892 million from July through September, compared with $1.2 billion it made a year earlier.

But excluding the one-time items, the company made an adjusted pretax profit of $2.6 billion, or 49 cents per share. That beat analyst estimates of 46 cents, according to FactSet.

Revenue rose 5.5% to $46.2 billion, also beating Wall Street predictions. Ford reduced its full-year pretax income guidance to $10 billion, at the low end of the $10 billion to $12 billion it expected at the end of the second quarter, spooking investors.

“Cost, especially warranty, has held back our earnings power, but as we bend that curve, there is significant financial upside for investors,” CEO Jim Farley told analysts on a conference call.

Chief Financial Officer John Lawler said warranty costs were slightly below the third quarter of last year, but still high. The company wouldn’t give numbers until it files its quarterly report with securities regulators on Tuesday but said costs will be higher than a year ago.

Ford reported $800 million of increased warranty costs for the second quarter of this year.

Farley has been trying to get a handle on warranty costs for the past four years. In October of 2020, he said the company was working to cut quality-related repairs after glitch-prone small-car transmissions hit the automaker’s bottom line.

Ford has said that it has a $7 billion cost gap with competitors, and Lawler said Monday it has made progress on that figure. The problem is competitors, which he did not identify, are cutting costs too. “We’ve taken cost out, but we’re not doing it at a pace faster than our competition,” he told analysts.

Ford has removed $2 billion in material, freight and labor costs this year, but that was offset by warranties and inflation at its Turkish joint venture, he said.

He said Ford is focused on reducing warranty and other costs, which will show up in later quarters.

The company’s plans are working, as evidenced by 10 straight quarters of revenue growth, Lawler said.

Farley said Ford has restructured its operations in Europe, South America, India and China, which collectively lost $2.2 billion in 2018 but together are profitable now. For instance, China, including exports, has contributed over $600 million to pretax earnings this year, Farley said.

A court in Russia’s far eastern city of Vladivostok on Wednesday convicted a visiting American soldier of stealing and making threats of murder, and it sentenced him to three years and nine months in prison.

Staff Sgt. Gordon Black, 34, flew to the Pacific port city to see his girlfriend and was arrested last month after she accused him of stealing from her, according to U.S. officials and Russian authorities.

Russia’s state news agencies Tass and RIA Novosti reported that the judge in Pervomaisky District Court in Vladivostok also ordered Black to pay 10,000 rubles ($115) in damages. Prosecutors had asked for a sentence of four years and eight months in prison.

Black’s case occurs amid tensions over Russia’s arrests of American journalists and other U.S. nationals as the fighting in Ukraine continues.

Russia has jailed a number of Americans, including corporate security executive Paul Whelan and Wall Street Journal reporter Evan Gershkovich. The U.S. government has designated both men as wrongfully detained and has been trying to negotiate their release.

Others detained include Travis Leake, a musician who has been living in Russia for years and was arrested last year on drug-related charges; Marc Fogel, a teacher in Moscow who was sentenced to 14 years in prison, also on drug charges; and dual nationals Alsu Kurmasheva and Ksenia Khavana.

The U.S. State Department strongly advises American citizens not to go to Russia.

Black was on leave and in the process of returning to his home base at Fort Cavazos, Texas, from South Korea, where he had been stationed at Camp Humphreys with the Eighth Army.

Cynthia Smith, an Army spokesperson, said Black signed out for his move back home and, “instead of returning to the continental United States, Black flew from Incheon, Republic of Korea, through China to Vladivostok, Russia, for personal reasons.”

Under Pentagon policy, service members must get clearance for any international travel from a security manager or commander.

The U.S. Army said last month that Black hadn’t sought such travel clearance and it wasn’t authorized by the Defense Department. Given the hostilities in Ukraine and threats to the U.S. and its military, it is extremely unlikely he would have been granted approval.

Our New Vision Immigration Service is a state-certified judicial office and is located in the center of Koreatown

in Los Angeles, All Americas We work for society and our customers around the world.

​Over the past 10 years, 1.5 year olds have excelled in numerous employment immigration tasks, E-2 visa application

and extension, 601A Waive, 601 Waive, DACA, VAWA application, visa work, student status change, study abroad work, visa center (NVC) procedure, citizenship application, green card renewal and reissuance,re-entry permit,Termination of conditional permanent residency, Petition application, Immigration Appeal, Immigration Office interview interpretation, Marriage registration, Permanent residency by family, Divorce application,Name change applications, criminal record erasure, civil proceedings, incorporation, document translation and notarization, and other immigration and documents services.

New Vision Immigration Service introduction

Pursuing 100% customer satisfaction, we never take lightly the important task that depends on the future of our customers, and at the lowest cost.

It is our unwavering goal to be the best choice for you. We welcome phone and email consultations for our customers at any time.

Our Service is a paralegal and immigration consulting office that has been serving the Korean American community

<strong>Looking for a Korean BBQ restaurant in Koreatown neighborhood? </strong>

Win new Koreatown customers with a Koreatown business directory listing! Business listings for all of your Koreatown LA needs. The best business directory of Local Businesses in Koreatown Los Angeles, CA. Find business listings by business category, business title, phone numbers, driving directions, business addresses, website information, maps and more.

<a href=https://www.ktownpromo.net/index.php?page=search&sCategory=150>Koreatown Business News </a> - Our business directory is an online list of businesses within a particluar niche, location and business category. Ktownpromo.net business directory represent a great marketing opportunity for small, local businesses in Koreatown area.

Search our directory to find local businesses that service your needs. Ktownpromo.net business directory represents a highly effective business opportunity because it's used by local customers looking for local businesses at the time they need those businesses.Get your business listed in Koreatown business listings. Easily list your a href=https://www.ktownpromo.net/index.php?page=search&sCategory=168>Best Funny Dog Memes</a> the way it should be listed.

We understand how personal a home is. It’s the place where you entertain, relax, and rejuvenate. That's why each residence at THE BORA 3170 is designed and built to give residents an unparalleled city-living experience. We’ve designed each luxury apartment with the best finishes.

The BORA 3170 has a variety of floorplans ranging from luxury studios to two bedrooms. Each apartment offers a tranquil setting ready to be furnished in your individual style.

Variety of floorplans ranging from studios to two bedrooms.

TOP LUXURY FEATURES ONLY at The BORA 3170:

- Fitness Center
- Pool & Spa
- Roof Top BBQ Grill
- Indoor Screen Golf
- Lounges/Club Room with TV Lounge
- Gated Safe Parking
- Package Tracking System
- Outdoor Living Deck
- TESLA EV Charger & Universal EV Charger

The BORA 3170 is located in Los Angeles, California in the 90006 zip code. This apartment community was built in 2023 and has 8 stories with 252 units.