General Motors Expected to Report Strong Second-Quarter Results

As General Motors prepares to unveil its second-quarter results, Wall Street analysts are optimistic about the performance of America’s largest carmaker. Expectations are high as analysts predict earnings per share to reach $2.75 adjusted, with revenue projected at $45.46 billion. This would signify a 1.6% increase in revenue from the previous year and a substantial 44.2% surge in adjusted earnings per share.

Last year, GM achieved $44.75 billion in revenue during the second quarter, with net income attributable to stockholders totaling $2.57 billion and adjusted earnings before interest and taxes reaching $3.23 billion. With the anticipated growth in revenue and earnings per share, General Motors is on track to surpass its previous financial achievements.

Analysts anticipate that GM will provide guidance towards the upper end of the automaker’s already raised forecast for 2024, or potentially even revise it upwards. The current 2024 guidance includes adjusted earnings ranging from $12.5 billion to $14.5 billion, equivalent to $9 to $10 per share. Moreover, GM’s adjusted automotive free cash flow is expected to fall within the $8.5 billion to $10.5 billion range.

Apart from analyzing the second-quarter results and 2024 guidance, investors will be closely monitoring General Motors’ progress in expanding its electric vehicle portfolio. Additionally, attention will be directed towards the company’s operations in China, where GM has encountered challenges with sales and earnings in recent times. Updates on capital expenditure and overall business strategies in key international markets will be key factors determining the market’s response to GM’s performance.

General Motors is poised to deliver strong second-quarter results, with promising indicators pointing towards revenue growth and increased earnings per share. The company’s ability to meet or exceed analyst expectations will play a crucial role in shaping investor sentiment and market perception of GM’s future prospects. Stay tuned for updates on General Motors’ performance as the official results are released.