The GM logo is seen on the facade of the General Motors headquarters in Detroit on March 16, 2021.
Rebecca Cook | Reuters
DETROIT — General motive is expected to report first-quarter earnings before the bell Tuesday.
According to recent analysts, Wall Street expects General Motors to report solid, if not “resilient” results in the first quarter of this year, largely due to expectations that car prices are still higher than forecast at the beginning of the year.
Here’s what Wall Street is expecting, according to median estimates compiled by LSEG:
- Earnings per share: $2.15 adjusted
- Revenue: 41.92 billion USD
Those results would mark revenue up 4.7% from a year earlier and adjusted earnings per share down 3%. of GM 1st quarter 2023 results includes revenue of $39.99 billion, net income available to shareholders of $2.4 billion and adjusted earnings before interest and taxes of $3.8 billion.
In addition to the results, some investors expect the company to increase its annual forecast or at least move toward its previously announced target.
of GM 2024 guide issued in January included net income attributable to shareholders of $9.8 billion to $11.2 billion, or $8.50 to $9.50 earnings per share; adjusted earnings before interest and taxes, or EBIT, of $12 billion to $14 billion; and adjusted auto industry free cash flow from $8 billion to $10 billion.
Earnings guidance was largely better than GM’s results last year and was in line with or above many Wall Street analysts’ expectations for flat results compared to 2023.
Investors will also be watching for any updates on GM’s electric vehicle plans. Cruise self-driving car unit and its stock buyback program.
– CNBC Michael Bloom contributed to this report.
This is developing news. Please check back for more updates.
