A GMC pickup truck is displayed on the market on a General Motors dealership lot in Austin, Texas on January 5, 2023.
Brandon Bell |
DETROIT – General Motors is predicted to announce its second-quarter results on Tuesday before the stock market opens.
Wall Street expects GM to face out amongst traditional Detroit automakers as the biggest American automaker’s sales and vehicle prices remained stable in the primary half of the 12 months.
This is what analysts expect based on the typical estimates compiled by LSEG:
- Earnings per share: $2.75, adjusted
- Revenue: 45.46 billion US dollars
Those results would represent a 1.6% increase in revenue 12 months over 12 months and a 44.2% increase in adjusted earnings per share. GM’s results for the second quarter of last 12 months included revenue of $44.75 billion, net income attributable to shareholders of $2.57 billion and adjusted earnings before interest and taxes of $3.23 billion.
Several Wall Street analysts expect GM to operate on the upper end of the automaker’s already raised forecast for 2024, and even increase it again.
GM’s 2024 guidance includes adjusted earnings of $12.5 billion to $14.5 billion, or $9 billion to $10 billion per share, and adjusted automotive free money flow in a variety of $8.5 billion to $10.5 billion.
Aside from second-quarter results and 2024 guidance, investors might be looking forward to updates on the automaker’s all-electric vehicle plans, capital spending and operations in China, where GM has struggled with sales and profits recently.
This is breaking news, please check back later for further updates.
