Ford shares slide as disappointing Q2 adjusted profit rattles investors

Shares of Ford Motor Co. are tumbling Thursday after the automaker’s second-quarter adjusted profit badly missed Wall Street’s expectations thanks in part to stubborn warranty costs. On Wednesday Ford posted an adjusted profit of 47 cents per share. That was far short of industry analysts’ estimates of 68 cents, according to FactSet. Warranty costs have vexed the nation’s second-largest automaker for several years and lopped billions off of its profits. In the second quarter, warranty and recall costs totaled $2.3 billion, $800 million more than the first quarter and $700 million more than a year ago.