A GMC pickup truck is offered for sale at a GM dealership in Austin, Texas, on January 5, 2023.
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Detroit — General Motors The company is scheduled to announce its second-quarter results before its general assembly on Tuesday.
Wall Street expects General Motors to be the standout among Detroit’s traditional automakers, with sales and vehicle prices flat in the first half of the year for the largest U.S. automaker.
Here’s what analysts expect, according to median estimates compiled by LSEG:
- Earnings per share: 2.75 Modified
- he won: $45.46 billion
These results represent a 1.6% increase in revenue compared to the prior year and a 44.2% increase in adjusted earnings per share. The second quarter results 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.
Many Wall Street analysts expect GM to head toward the top end of the automaker’s already raised guidance for 2024, if not raise it again.
GM’s 2024 guidance includes adjusted earnings of $12.5 billion to $14.5 billion, or $9 to $10 per share, and adjusted automotive free cash flow in the range of $8.5 billion to $10.5 billion.
Beyond second-quarter results and 2024 guidance, investors will be watching for updates on the company’s plans for an all-electric vehicle, capital spending and operations in China, where GM has recently struggled with sales and earnings.
This is new news. Please check back for additional updates.
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