Ford Motor Co. disclosed Wednesday in a filing that a “field service action” it announced to correct a door latch issue on some F-150 and F-250 trucks is estimated to cost $267 million. The door latch issue is on certain model year 2015 through 2017 F-150 trucks and certain model year 2017 F-250 trucks. Ford said the cost, which will be incurred by its North America business unit, will be reflected in fourth-quarter results. The automaker affirmed its 2017 adjusted earnings-per-share guidance, which would exclude this non-recurring cost, of $1.65 to $1.85, which surrounds the FactSet consensus of $1.74. The stock, which tacked on 0.2% in premarket trade, has gained 1.2% year to date through Tuesday, while rival General Motors Co. shares have soared 29% and the S&P 500 has climbed 14%.
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