General Motors (GM) is set to announce its second-quarter earnings results before the market opens on Tuesday, with Wall Street anticipating a strong performance from the Detroit automaker. Analysts predict stable sales and vehicle prices for America’s largest carmaker during the first half of the year.
According to average estimates compiled by LSEG, analysts expect the following results:
– Earnings per share (EPS): $2.75 adjusted
– Revenue: $45.46 billion
If these projections hold, GM would see a 1.6% increase in revenue compared to the same period last year, alongside a substantial 44.2% rise in adjusted EPS. For context, GM’s second-quarter results from the previous year included $44.75 billion in revenue, a net income attributable to stockholders of $2.57 billion, and adjusted earnings before interest and taxes (EBIT) of $3.23 billion.
Several Wall Street analysts believe GM may provide guidance toward the higher end of its already raised forecasts for 2024, with the possibility of an additional upward revision. GM’s current 2024 guidance includes:
– Adjusted earnings: $12.5 billion to $14.5 billion, or $9 to $10 per share
– Adjusted automotive free cash flow: $8.5 billion to $10.5 billion
Beyond the quarterly results and 2024 guidance, investors will be keen to hear updates on GM’s all-electric vehicle plans, capital expenditures, and its operations in China, where the company has recently encountered challenges with sales and earnings.
