DETROIT — Ford Motor expects to take a pretax hit of about $2.2 billion in the fourth-quarter due to contributions to its employee pension plans and retirement benefits.
The automaker, in a filing with the Securities and Exchange Commission after the bell Wednesday, said the loss includes $2 billion associated with pension plans outside the U.S. and $600 million connected to other post-retirement employee benefit plans globally.
It said about $400 million of those losses are expected to be offset by gains associated with pension plans in the United States. On an after-tax basis, the loss is expected to reduce Ford's net income by about $1.7 billion in the fourth quarter.
The automaker said the loss will not impact adjusted earnings per share because it's a special item.
The stock closed down less than 1% Wednesday to $9.16. Shares were largely unchanged during Thursday's premarket. Ford shares are up 7.8% during the past year, but down 1.5% in 2020.
The Dearborn-based automaker is scheduled to report fourth-quarter and full-year earnings after the bell on Feb. 4.
In October, Ford lowered its 2019 earnings guidance to between $6.5 billion and $7 billion, or $1.20 to $1.32 per share. It previously said it would earn between $7 billion and $7.5 billion, or $1.20 to $1.35 per share.