On January 5, 2023, a GMC pickup truck was displayed for sale inside a General Motors dealership in Austin, Texas.
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Detroit- General Motors It is scheduled to announce second-quarter results before the market closes on Tuesday.
Wall Street expects General Motors, the largest U.S. automaker, to emerge as the leader among Detroit’s legacy automakers, with sales and vehicle prices holding steady in the first half of the year.
Analysts expected the following, according to an average estimate compiled by London Stock Exchange Group (LSEG):
- Earnings per share: Adjusted $2.75
- income: $45.46 billion
These results would mark revenue growth of 1.6% from the year-earlier period and adjusted earnings per share growth of 44.2%. GM’s second-quarter results last year included revenue of $44.75 billion, shareholder net income of $2.57 billion and adjusted EBIT of $3.23 billion.
Several Wall Street analysts expect GM to raise its guidance to the high end of the automaker’s already-raised 2024 guidance, if not another increase.
GM’s 2024 guidance includes adjusted earnings of $12.5 billion to $14.5 billion, or $9 to $10 per share, and adjusted auto free cash flow of $8.5 billion to $10.5 billion.
In addition to second-quarter results and 2024 guidance, investors will be watching for updates on the automaker’s all-electric vehicle plans, capital expenditures and operations in China, where GM has recently faced sales and profitability issues.
This is developing news. Please check back for other updates.
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