General Motors (GM) Q1 2024 Earnings
The GM logo is seen on the facade of General Motors headquarters in Detroit on March 16, 2021.
Rebecca Cook | Reuters
Detroit — general motors is expected to report first-quarter earnings before the bell on Tuesday.
According to a recent analyst note, Wall Street expects General Motors to report strong, if not “resilient” results in the first quarter of this year, mainly due to This is driven by expectations that car prices will remain higher than expected at the beginning of the year.
Here's what Wall Street is expecting, according to average estimates compiled by LSEG.
- Earnings per share: Adjusted $2.15
- Revenue: $41.92 billion
These results would translate into a 4.7% increase in revenue and a 3% decrease in adjusted earnings per share compared to the same period last year. GM's Results for Q1 2023 Revenues were $39.99 billion, net income attributable to shareholders was $2.4 billion, and adjusted earnings before interest and taxes were $3.8 billion.
Regardless of the results, some investors are hoping the company will raise its full-year forecasts, or at least steer it towards the higher end of its previously announced targets.
GM's Guidance for 2024 The numbers released in January included net income attributable to shareholders of $9.8 billion to $11.2 billion, or earnings per share of $8.50 to $9.50. Adjusted earnings before interest and taxes (EBIT) will be between $12 billion and $14 billion. Adjusted auto free cash flow between $8 billion and $10 billion.
The earnings outlook significantly beat GM's results last year and matched or exceeded many Wall Street analysts' expectations for flat earnings compared to 2023.
Investors will also be watching for updates on GM's electric vehicle plans. Cruise self-driving car unit and its stock buyback program.
— CNBC michael bloom contributed to this report.
This is developing news. Check back for additional updates.
Summarize this content to 100 words The GM logo is seen on the facade of General Motors headquarters in Detroit on March 16, 2021.Rebecca Cook | ReutersDetroit — general motors is expected to report first-quarter earnings before the bell on Tuesday.According to a recent analyst note, Wall Street expects General Motors to report strong, if not “resilient” results in the first quarter of this year, mainly due to This is driven by expectations that car prices will remain higher than expected at the beginning of the year. Here's what Wall Street is expecting, according to average estimates compiled by LSEG.Earnings per share: Adjusted $2.15Revenue: $41.92 billionThese results would translate into a 4.7% increase in revenue and a 3% decrease in adjusted earnings per share compared to the same period last year. GM's Results for Q1 2023 Revenues were $39.99 billion, net income attributable to shareholders was $2.4 billion, and adjusted earnings before interest and taxes were $3.8 billion.Regardless of the results, some investors are hoping the company will raise its full-year forecasts, or at least steer it towards the higher end of its previously announced targets.GM's Guidance for 2024 The numbers released in January included net income attributable to shareholders of $9.8 billion to $11.2 billion, or earnings per share of $8.50 to $9.50. Adjusted earnings before interest and taxes (EBIT) will be between $12 billion and $14 billion. Adjusted auto free cash flow between $8 billion and $10 billion.The earnings outlook significantly beat GM's results last year and matched or exceeded many Wall Street analysts' expectations for flat earnings compared to 2023.Investors will also be watching for updates on GM's electric vehicle plans. Cruise self-driving car unit and its stock buyback program.— CNBC michael bloom contributed to this report.This is developing news. Check back for additional updates.
https://www.cnbc.com/2024/04/23/general-motors-gm-earnings-q1-2024.html General Motors (GM) Q1 2024 Earnings
