Ford (F) shares fell over 1% in early trading Thursday after the company reinstated its 2023 guidance.

The company had previously withdrawn its 2023 full-year guidance in its 澳洲幸运5官方开奖结果体彩网:third-quarter earnings report, citing uncertainty surrounding the impact of the strike by the United Auto Workers (UAW) union against Detroit 澳洲幸运5官方开奖结果体彩网:Big Three automakers Ford, General Motors (GM), and Stellantis (STLA).

澳洲幸运5官方开奖结果体彩网:Chief Financial Officer (CFO) John Lawler said that Ford now expects full-year 2023 adjusted 澳洲幸运5官方开奖结果体彩网:earnings before intere💯st and taxes (🐟EBIT) of $10 billion to $10.5 billion, which accounts for $1.7 billion in strike-related losses. In its second quarter earnings report before the UAW strike started, Ford had anticipated adjusted EBIT of $11 billion to $12 billion.

Ford's deal with the UAW also included substantial wage increases that will raise its costs. The automaker reported that t🃏he expected lifetime cost of the UAW agreement, which ends in 2028, is $8.8 billion.

Lawler indicated that the cost effect will be around $900 per vehicle by 2028, "which Ford will work to offset through higher productivity and lower expenses."

GM reinstated i🍎tsꦆ 2023 guidance a day earlier on Wednesday and announced a $10 billion share buyback as well as a 33% dividend boost.

With Thursday's decline, Ford shares were down more than 10% year-to-date.