Analysts were surprised by Ford's warning that adjusted earnings would be about half of the $3 billion they had estimated for Q3.
In July, CFO John Lawler said the company expected $3 billion in "inflationary pressures" this year, triple the $1 billion increase it projected in the first quarter. Ford also said then that it expected commodity prices to increase to $4 billion, potentially offsetting favorable pricing.
A spokesman said the $1 billion figure noted last week was in addition to the expected costs it detailed in July.
Ford's not alone. Reuters last week cited several suppliers that said they have raised prices on parts by 7 to 20 percent across the board.
"It was only a matter of time before supplier cost recoveries began to flow," Jonas said.
Thomas Goldsby, chair in logistics at the University of Tennessee Knoxville's supply chain management department, said companies in a variety of sectors are looking to boost margins to combat inflation.
"There's a lot of price-taking happening," Goldsby said. "Everyone is seeing inflation on every line item, from materials and labor to energy and transportation.
"I wouldn't be surprised if that's happening up and down the automotive supply chain because it's happening everywhere."
Murphy, the Bank of America analyst, maintained his "buy" rating on Ford after its warning, he said, because he has a positive view of its overarching strategy.
"Despite the tough macroeconomic backdrop and this latest news suggesting continued challenges from the supply chain and broader inflation, we believe Ford is just starting to hit a more sustainable inflection in earnings," Murphy said.
