Ford Motor has reiterated its full-year earnings before interest and taxes (EBIT) forecast of $6bn to $6.5bn despite another fire at Novelis’ aluminium plant in Oswego, New York, last week.
The automaker had already reduced its profit guidance in October, citing an estimated gross impact of up to $2bn from an earlier incident at the same facility.
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At that time, Ford said it aimed to recover about $1bn of that hit next year by ramping up production at selected truck plants.
Ford is a Novelis customer, as its pickup models use largely aluminium body structures.
Production of the F-150 Lightning electric pickup in Michigan was suspended indefinitely after the September fire, and output of petrol-powered trucks has also been affected.
In a joint statement, Ford and Novelis said the latest fire on 20 November at the Oswego plant was “swiftly contained and the plant was safely evacuated with no injuries to employees, contractors or first responders”.
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By GlobalDataAs of 21 November, cold mill and heat treatment operations at the plant had resumed, and the plant remains in operation supplying finished stock to Ford.
Novelis will “continue to leverage alternate sources, including its global network of plants and industry peers, to mitigate impact”.
The Oswego site also experienced a smaller fire in October.
In October, Novelis said it intended to restart the damaged part of the plant by the end of December, bringing forward its earlier schedule, which had aimed for a restart in the first quarter of 2026.
A company spokesperson, cited by Reuters after the latest incident, said it was too early to determine whether Thursday’s fire would alter that timetable.
The spokesperson said: “A fire started at Novelis’ Oswego, New York, plant this morning. Everyone working at the plant was safely evacuated. Multiple local fire departments responded, and the fire is now under control. Crews are still on site to ensure it is fully extinguished.”
Ford’s latest statement did not indicate any change.
The statement said: “Novelis and Ford will continue to provide updates as further details become available.”
For the third quarter, Ford reported revenue of $50.5bn, an increase of 9% from a year earlier.
Net income was $2.4bn, while adjusted earnings before interest and taxes came in at $2.6bn, reflecting a negative net tariff impact of $0.7bn.
The company also announced a regular fourth-quarter dividend of 15 cents per share, payable on 1 December to shareholders of record at the close of business on 7 November.
