Employees of General Motors work on the assembly line at the Fairfax assembly and stamping plant in Kansas City, Kansas.
Jim Barcus of General Motors
General Motors We reported first quarter earnings on Wednesday before the opening bell on Wall Street.
The numbers are:
Adjusted EPS: $ 1.04 compared to the expected $ 1.25 based on the average analyst estimate compiled by Refinitiv.
Revenue: $ 32.47 billion, expected $ 32.67 billion.
GM has overcome the ongoing challenges of the global shortage of semiconductor chips. This is expected to cause factory closures and reduce industry revenues by billions of dollars in 2021.
GM’s annual earnings forecast is $ 1 billion to $ 2 billion in adjusted pre-tax income and adjusted car free cash flow, $ 10 billion to $ 11 billion, or $ 4.50 to $ 5.25 per share. .. Forecasts impact potential impacts of an ongoing global semiconductor chip shortage, including a $ 1.5 billion to $ 2 billion blow to revenue and a $ 1.5 billion to $ 2.5 billion reduction to its free cash flow. I took it into consideration.
At the end of the first quarter, GM CFO Paul Jacobson told investors: “I’m more and more confident” Despite the lack of chips, automakers will meet their revenue targets for the year.
In addition to revenue, Wall Street has updated its 2021 guidance and insights into many other issues, from the global shortage of semiconductor chips to electric and self-driving cars, to CEO Mary Barra and other executives. I am asking for.
GM reported adjusted pre-tax earnings of $ 1.3 billion, or 62 cents per share. In the first quarter of 2020 When the coronavirus begins to close the factory. Revenue for the quarter was $ 32.7 billion.
This story is developing. Check for updates.
General Motors (GM) Revenues Q1 2021
Source link General Motors (GM) Revenues Q1 2021