A GMC pickup truck is displayed for sale on a lot at a General Motors dealership in Austin, Texas, on Jan. 5, 2023.
Brandon Bell | Getty Images
DETROIT — General Motors is set to report second-quarter results before the bell Tuesday.
Wall Street expects GM to be the standout among the traditional Detroit automakers, with sales and vehicle prices stable during the first half of the year for America’s largest carmaker.
Here is what analysts expect, according to average estimates compiled by LSEG:
- Earnings per share: $2.75 adjusted
- Revenue: $45.46 billion
Those results would mark a 1.6% increase in revenue compared to a year earlier and a 44.2% increase in adjusted earnings per share. GM’s second-quarter results last year included $44.75 billion in revenue, net income attributable to stockholders of $2.57 billion and adjusted earnings before interest and taxes of $3.23 billion.
Several Wall Street analysts expect GM to guide toward the higher end of the automaker’s already raised guidance for 2024, if not hike it again.
GM’s 2024 guidance includes adjusted earnings of $12.5 billion to $14.5 billion, or $9 to $10 a share, and adjusted automotive free cash flow in a range of $8.5 billion to $10.5 billion.
Other than second-quarter results and 2024 guidance, investors will be watching for updates regarding the automaker’s all-electric vehicle plans, capital spend and operations in China, where GM has recently faced issues with sales and earnings.
This is developing news. Please check back for additional updates.
Content Source: www.cnbc.com