Ford Motor Co. reported better-than-expected quarterly profit and sales, but the stock lost nearly 5% after hours Monday as investors focused on a $1.2 billion loss for the car maker’s EV business and a guidance tweak signaling lower profit for the year.

Ford reported a lower third-quarter profit on Monday, hurt by ongoing challenges in the auto market, sending its shares down about 3% in trading after the bell.

Ford Motor Co. said its third-quarter net income fell 26 percent, largely because of a previously announced charge for delaying some electric vehicles, and the automaker lowered its full-year earnings projection.

Ford Motor said its adjusted profit for the full year would come in at the low end of its guidance, disappointing investors after rivals General Motors and Tesla posted surprisingly strong results. The automaker has been struggling with deep losses on its electric-car business and higher warranty costs,