A GMC pickup truck is displayed for sale on a lot at a General Motors dealership in Austin, Texas, on January 5, 2023.
Brandon Bell | Getty Images
DETROIT — General Motors The company is scheduled to report its second-quarter results before the market opens on Tuesday.
Wall Street expects GM to stand out among traditional Detroit automakers, with vehicle sales and prices flat through the first half of the year for the largest U.S. automaker.
Here's what analysts expect, according to average estimates compiled by LSEG:
- Earnings per share: $2.75 adjusted
- Revenue: 45.46 billion dollars
The results would represent a 1.6% increase in revenue compared with the prior year 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 shareholders of $2.57 billion and adjusted earnings before interest and taxes of $3.23 billion.
Several Wall Street analysts expect GM to stick to the high end of the automaker's already elevated 2024 guidance, or even raise it again.
GM’s 2024 guidance includes adjusted earnings of $12.5 billion to $14.5 billion, or $9 to $10 per share, and adjusted automotive free cash flow in a range of $8.5 billion to $10.5 billion.
In addition to second-quarter results and 2024 guidance, investors will be watching for updates on the automaker's all-electric vehicle plans, capital spending and operations in China, where GM has recently struggled with sales and profits.
This is developing news. Please check back for additional updates.
