A GMC pickup truck is displayed for sale on a General Motors dealership lot in Austin, Texas on January 5, 2023.
Brandon Bell |
DETROIT – General Motors is expected to announce its second-quarter results on Tuesday before the stock market opens.
Wall Street expects GM to stand out among traditional Detroit automakers as the largest American automaker's sales and vehicle prices remained stable in the first half of the year.
This is what analysts expect according to the average 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 year over year and a 44.2% increase in adjusted earnings per share. GM's results for the second quarter of last year 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 at the upper end of the automaker's already raised forecast for 2024, or 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 cash flow in a range of $8.5 billion to $10.5 billion.
Aside from second-quarter results and 2024 guidance, investors will be watching for 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.
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