Ford Motor Co. (F - Get Report) shares sunk after the company reported second quarter earnings that missed analysts' expectations and revised its full-year earnings guidance lower. 

Ford said Wednesday after the closing bell it recorded 27 cents per share of adjusted earnings on $38.9 billion in revenue. Analysts surveyed by Factset Research Systems Inc. expected the company to post earnings of 31 cents per share on $39.14 billion in revenue. 

Moreover, the company revised its full-year earnings guidance down to $1.30 to $1.50 per share from its previous target of $1.45 to $1.70 per share. 

Ford shares fell 4% in pre-market trading Thursday.

Ford said in May that it did not expect to revise its full-year guidance after a fire broke out at one of its main parts suppliers that forced a shut down of production of several of its vehicles, including its prized F-150 pickup truck, for more than a week. 

The company did, however, warn that second quarter financials would be affected. Leading up to Wednesday's earnings report, analysts expected Ford to post full-year earnings of $1.51 per share. 

In the second quarter, Ford announced it would exit the majority of its passenger vehicle market in North America as it transitions to a focus on the F-Series truck line and SUVs. The sole remaining North American passenger car will be a new Focus crossover. 

Ford CFO Bob Shanks said the company is undertaking a "profound redesign" that will take time, and as decisions are made, such as the exit of "traditional sedan silhouettes in North American," Ford will communicate its decisions. 

On Tuesday, Ford said it was investing $4 billion into a new unit called Ford Autonomous Vehicles LLC that will focus on self-driving systems integration, autonomous vehicle research and advanced engineering. 

Earlier Wednesday, Ford's largest competitor General Motors Co. (GM - Get Report) revised its guidance down to $6 per share from $6.45 per share at the midpoint, citing continuing headwinds in relation to commodity costs and foreign currency exchange rates. JPMorgan Securities LLC analysts said Wednesday the commodity issues were largely related to steel and other metal costs, which are expected to come under increasing pressure from the Trump administrations tariffs on steel and aluminum. 

Ford CEO Jim Hackett said Wednesday the company's "solid results in North America" were partially offset by "unexpected challenges with our overseas operations and headwinds in the business environment."