Ford Motor Co. is lowering its annual earnings guidance for 2025 following a fire at a major aluminum supplier, but it plans to ramp up F-Series production in Michigan and Kentucky in 2026.

The Sept. 16 blaze at Novelis Inc.'s Oswego, New York, plant will cost Ford as much as $1 billion between this year and 2026, the automaker said. Although it recorded a $2.4 billion net income in the third quarter, and its earnings per share and record revenue beat Wall Street expectations, Ford lowered its adjusted operating profit guidance to $6 billion to $6.5 billion, down from the $6.5 billion to $7.5 billion it projected in July.

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