Welcome to Extreme Investor Network, your go-to source for all things business news and insights. Today, we bring you the latest developments in the world of General Motors (GM) as the company gears up to report its first-quarter earnings.
Wall Street analysts are expecting GM to deliver solid, if not “resilient,” results for the first quarter of this year. One key factor driving this optimism is the anticipation that vehicle pricing remained higher than initially projected at the beginning of the year. According to average estimates compiled by LSEG, here is what Wall Street is expecting from GM’s first-quarter earnings report:
– Earnings per share: $2.15 (adjusted)
– Revenue: $41.92 billion
If GM meets these expectations, it would mark a 4.7% increase in revenue compared to the previous year, despite a 3% decline in adjusted earnings per share. In the first quarter of 2023, GM reported $39.99 billion in revenue, with net income attributable to stockholders of $2.4 billion and adjusted earnings before interest and taxes of $3.8 billion.
In addition to the financial results, investors are keeping an eye out for any potential updates to GM’s annual forecast. The company’s 2024 guidance released earlier this year included projections of net income attributable to stockholders ranging from $9.8 billion to $11.2 billion, or $8.50 to $9.50 in earnings per share. GM also outlined adjusted earnings before interest and taxes of $12 billion to $14 billion, along with adjusted automotive free cash flow between $8 billion and $10 billion.
Aside from financial performance, investors are eager to hear about GM’s latest initiatives in the electric vehicle space, updates on its Cruise autonomous car unit, and any potential changes to its stock buyback program.
Stay tuned for more updates on GM’s first-quarter earnings report and the latest happenings in the business world. And remember, when it comes to reliable business news and insights, Extreme Investor Network has got you covered.
