DEARBORN, Mich. – Ford Motor lost $1.67 billion during the fourth quarter and missed Wall Street earnings expectations on increased pension contributions and higher North American warranty and labor costs.

Ford shares plunged by about 9% during after-hours trading Tuesday to about $8.30 per share. The company released its earnings after the markets closed.

The automaker disappointed Wall Street with its earnings projections for 2020. It's projecting full-year earnings of between 94 cents and $1.20 a share, or adjusted earnings before interest and taxes of $5.6 billion and $6.6 billion.

The company made $6.4 billion in 2019, slightly below a revised forecast for the year following a botched launch of its redesigned Ford Explorer SUV. Ford expects adjusted free cash flow of between $2.4 billion and $3.4 billion in 2020.

The Dearborn, Michigan-based automaker last month said it would take a pretax hit of about $2.2 billion in the fourth quarter due to contributions to its employee pension plans and retirement benefits.

Here's what Wall Street expected, according to Refinitiv consensus estimates:

Adjusted earnings: 12 cents per share versus 15 cents per share expected

Automotive revenue: $36.7 billion versus $36.49 billion expected

Ford CEO Jim Hackett during a call with investors on Tuesday described the company as being "at a crossroads" as it executes an $11 billion global restructuring plan through the early-2020s.

"Our leadership team is determined to return to world-class levels of operational execution," he said. "We will do that without losing any momentum in creating a Ford Motor Co. that will thrive and generate long-term value in these fast, changing times."